An effective minimum wage
a. imposes a price ceiling on the wages of various categories of low-skill workers.
b. increases the demand for low-skill workers.
c. makes it easier for low skill workers to find jobs.
d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.
D
You might also like to view...
In the simple Keynesian framework, the price level
A) is fixed. B) varies directly with unemployment. C) varies inversely with wages. D) is indeterminate.
One way to solve the problems caused by information asymmetry is:
A. surfing. B. signaling. C. proofing. D. All of these are solutions to information asymmetry.
U.S. tariff rates are substantially higher than the world average
Indicate whether the statement is true or false
Economic regulation consists of government measures designed to improve health and safety, such as control over unsafe working conditions and dangerous products
Indicate whether the statement is true or false