Why Do Some Workers Lose Their Job When the Minimum

question 36

Multiple Choice

Why do some workers lose their job when the minimum wage is increased?

• A) The increase in labor costs decreases the supply of the product, thereby raising the price of the good so that the equilibrium quantity decreases to zero.
• B) The increase in the minimum wage decreases the quantity of labor demanded.
• C) The demand for labor is perfectly inelastic.
• D) The supply of labor decreases.
• E) The demand for labor is perfectly elastic.

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Definitions:

Return Call

The act of calling someone back after they have previously called you.

Specific Date

A particular day identified by its unique combination of day, month, and year.

Diverse Workforce

A workplace that includes employees from a wide range of backgrounds, including different races, ethnicities, genders, ages, religions, disabilities, and sexual orientations.

Employee Talents

The natural abilities or skills that individuals possess, which can be developed and utilized within a workplace for improved performance and productivity.