The Global Economy Unit Test

Question

5 of 215 of 21 Items

Question
Which of the following describes an argument against raising the federal minimum wage?(1 point)
Responses

it would give laborers greater purchasing power to afford living expenses
it would give laborers greater purchasing power to afford living expenses

it will discourage education since special skills would not be required to earn good pay
it will discourage education since special skills would not be required to earn good pay

it will decrease corporate taxes by reducing profits
it will decrease corporate taxes by reducing profits

it will increase the operating expenses of employers which will lead to an increase in prices and/or layoffs to offset higher expenses

Answer 1

Correct answer: it will increase the operating expenses of employers which will lead to an increase in prices and/or layoffs to offset higher expenses