Business, 12.08.2020 08:01 carcon2019
A midyear burst of minimum-wage increases starts on July 1
On July 1, 2016, the minimum wage will increase in 14 U. S. cities, states and counties, and in the District of Columbia. In SanFrancisco, the minimum wage will rise to $13.00 by 2018.
Source: The Wall Street Journal, July 1, 2016
The rise in the minimum wage .
A. increases aggregate supply because when workers receive a higher wage rate, they work harder
B. decreases aggregate supply because firms' costs increase
C. creates a movement up along the aggregate supply curve because the price level rises
D. does not change aggregate supply because most people earn more than the minimum wage
Answers: 3
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A midyear burst of minimum-wage increases starts on July 1
On July 1, 2016, the minimum wage will i...
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