Ask Question
27 November, 21:19

A binding minimum wage will increase the income of Question 7 options: A. all workers. B. potential workers seeking employment. C. only those workers in jobs that would normally pay less than minimum wage. D. only those workers in jobs that would normally pay more than minimum wage. E. no workers.

+4
Answers (2)
  1. 27 November, 22:49
    0
    The answer is D. Only those workers in jobs that would normally pa more than minimum wage

    Explanation:

    A minimum wage is binding if it is set above the equilibrium wage, with a binding minimum wage, adjustments are blocked and the market is prevented from allocating labour resources. A minimum wage is a price floor implemented by the government which ensures that an employer must pay a minimum rate of pay to an employee, and anything lower than this rate pay is illegal.
  2. 28 November, 00:28
    0
    D. only those workers in jobs that would normally pay more than minimum wage.

    Explanation:

    A minimum wage is a price floor implemented by the government, which ensures that an employer must pay a minimum rate of pay to an employee, and anything lower than this rate of pay is illegal. "A minimum wage is binding if it is set above the equilibrium wage.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A binding minimum wage will increase the income of Question 7 options: A. all workers. B. potential workers seeking employment. C. only ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers