Secondary or long-run effects of minimum-wage laws (after employers have had a chance to change...
Question:
Secondary or long-run effects of minimum-wage laws (after employers have had a chance to change the labor contract) can include:
a. A reduction in the job training for those who remain employed,
b. An increase in the work required of those remaining employed,
c. An increase in the non-wage benefits of employment,
d. Both, a) and b).
Minimum Wage:
The Minimum Wage has for long been a debated topic between American politicians. The Minimum Wage reflects the lowest possible pay rate that an employer can pay an employee and this rate will vary from one state to another.
Answer and Explanation: 1
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View this answerThe correct answer is d. Both, a) and b).
- There will be less job training because companies will not want to further increase their cost associated...
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What is a Minimum Wage? - Definition & History
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Chapter 7 / Lesson 12
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Understand the minimum wage definition in economics. Discover the history of minimum wage in the U.S., and explore the advantages and disadvantages of imposing a minimum wage. Learn the difference between federal and state minimum wage.
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