Can someone help me out with this multiple choice question in AP Macro?
"Congress votes to substantially increase the minimum wage. The determinant causing the shift in this scenario is:
A. price
B. productivity
C. resource cost
D. political or environmental phenomena
E. consumer spending
F. investment
G. net exports
H. government spending"
There isn't anything in my notes about changes in wage so I could really use some assistance and explanation if at all possible. Thanks ahead of time!!
2 answers
What does government spending have to do with McDonald's raising the wages of its employees?
When government sets wages or prices, it has little to do with economics, much more to do with politics, or cultural practices.
1 answer