Asked by
Michael Hirsch
on Nov 16, 2024
Verified
Which of the following is the most likely outcome of raising the minimum wage?
A) An increase in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
B) An increase in the quantity of labor supplied by workers and a decrease in the quantity of labor demanded by firms
C) A decrease in the quantity of labor supplied by workers and an increase in the quantity of labor demanded by firms
D) A decrease in both the quantity of labor supplied by workers and the quantity of labor demanded by firms
Quantity Of Labor
The total hours worked or the number of workers employed by a business or within an economy.
- Acquire an understanding of the consequences minimum wage statutes have on job opportunities and labor force provision.
Verified Answer
AV
Learning Objectives
- Acquire an understanding of the consequences minimum wage statutes have on job opportunities and labor force provision.