The federal minimum wage law seeks to
a. maximize employment for low wage occupations.
b. shift employment from low wage to high wage industries.
c. create a floor for wages.
d. index wages to the CPI.
c. create a floor for wages.
You might also like to view...
Human capital refers to the:
A. Stock of knowledge and skills that enables a person to be productive and earn income B. Number of workers in a country's labor force C. Number of labor hours worked in a country D. Schools, highways, and other infrastructure that increases labor productivity
Unless demand is changing, price and quantity will
A) be proportionate. B) move in opposite directions. C) move in the same direction. D) fluctuate cyclically. E) remain constant.
Which is true regarding cyclical unemployment? i. Cyclical unemployment is positive at business cycle peaks. ii. Cyclical unemployment is negative at business cycle troughs. iii. Cyclical unemployment is zero at full employment
A) iii only B) i, ii and iii C) i and iii D) i only E) i and ii
Which of the following products may have a free-rider problem?
A) On-the-job training programs B) Environmental protection programs C) Movie DVDs D) Mobile phones