Which of the following describes an argument against raising the federal minimum wage?
A. it will discourage education since special skills would not be required to earn good pay
B. it will increase the operating expenses of employers which will lead to an increase in prices and/or layoffs to offset higher expenses
C. it would give laborers greater purchasing power to afford living expenses
D. it will decrease corporate taxes by reducing profits
1 answer
B. it will increase the operating expenses of employers which will lead to an increase in prices and/or layoffs to offset higher expenses