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If an increase in the minimum wage increases workers’ incomes by $75 and reduces employers’ incomes by $100, while workers’ spend all of their income increase but employers reduce their spending

If an increase in the minimum wage increases workers’ incomes by $75 and reduces employers’ incomes by $100, while workers’ spend all of their income increase but employers reduce their spending by only eighty percent of their income reduction, aggregate spending

A)falls by $5.

B)falls by $25.

C)falls by $80.

D)remains unchanged.

52.If an increase in the minimum wage increases workers’ incomes by $75 and reduces employers’ incomes by $100, while workers’ spend all of their income increase but employers reduce their spending by only seventy-five percent of their income reduction, aggregate spending

A)falls by $5.

B)falls by $25.

C)falls by $80.

D)remains unchanged.

True False

53.True or False? It is always in the interests of workers for the minimum wage to be as high as possible.

A)True

B)False

54.True or False? Increases in the minimum wage are in every worker’s best interest.

A)True

B)False

55.True or False? State governments are not allowed to increase the minimum wage in their states.

A)True

B)False

56.True or False? City governments are not allowed to increase the minimum wage in their cities.

A)True

B)False

57.True or False? It is generally true that modest increases in the minimum wage help workers that keep their jobs more than it hurts workers that lose their jobs.

A)True

B)False

58.True or False? It is generally true that massive increases in the minimum wage help workers that keep their jobs more than it hurts workers that lose their jobs.

A)True

B)False

59.True or False? It is impossible to raise the minimum wage so high to hurt workers generally.

A)True

B)False

60.True or False? It is possible to raise the minimum wage so high to hurt workers generally.

A)True

B)False

Jan 24 2020 View more View Less

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