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Author Question: The idea that individuals who work for companies should receive ________ is known as minimum wage. (Read 31 times)

Yi-Chen

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on: Apr 19, 2019

Question 1

In 2015, President Obama proposed increasing the minimum wage from $7.25/hr to $10.10/hr. According to theory, what would likely be the result of such an increase?


◦ Some workers would leave the labor market.
◦ Firms would hire more workers.
◦ All workers prior to the wage increase would now earn at least $10.10 per hour.
◦ Unemployment would increase as firms lay off workers.

Question 2

The idea that individuals who work for companies should receive ________ is known as minimum wage.


◦ at least an equitable hourly income
◦ fair compensation for their skills
◦ compensation based on the riskiness of their jobs
◦ increases in wages based on the longevity of employment
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by Yi-Chen on Apr 19, 2019

snackralk

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Reply #1 on: Apr 19, 2019
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Yi-Chen

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Reply 2 on: Apr 19, 2019
YES! Correct, THANKS for helping me on my review

vickybb89

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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