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.
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.
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.
The correct option is B. expand the production possibilities of an economy.
Explanation:
Economic growth can be defined as the increase in an economy's production of economic goods and services, often compared from one period of time to another. It can be measured in any of the following:
Nominal or real (adjusted for inflation) terms.
Gross National Product (GNP)
Gross Domestic Product (GDP), etc.
Contributors to economic growth include:
Increases in capital goods.
Increase in labor force.
Technology.
Human capital.
In simplest terms therefore, economic growth is used to refer to an increase in the aggregate production in an economy.
From the following is the most strategic approach to take is that you could increase the chances of your current traffic choosing to convert and move down your funnel. Over time, this has the potential to drastically lower your cost to acquire a customer and positively impact your return on investment. The option "b" fulfills the demand of the situation mentioned and this will be the most significant option to be selected while suffering the situation.
<span>Women were able to find more employment on the in America during WW2, as many jobs typically staffed by men were being vacated due to the increased need for manpower in the military.</span>
Based on the information provided within the question it can be said that the effect being illustrated in this scenario is known as the information effect. This term refers to when a company obtains confidential information that allows them to make specific decisions to drastically increase their position within the market. Such as BMW is doing by using the information to target the correct population segment within the market.
