What is one primary purpose of setting a national minimum wage?

4.1.6.6 The National Minimum Wage NOTES

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Social Studies
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Professional Development
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Easy

James Hannaford
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To ensure workers are paid at least a certain hourly rate
To decrease government spending
To increase the complexity of economic policies
To reduce the number of businesses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What potential effect does raising the minimum wage have on employment according to some economists?
It leads to job creation
It may lead to job losses, especially among low-skilled workers
It has no impact on employment
It decreases the number of high-paying jobs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How might businesses react to increased labour costs due to a higher minimum wage?
By reducing their workforce or cutting hours
By increasing product quality
By expanding their operations internationally
By lowering management salaries
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential disadvantage of raising the minimum wage mentioned in the text?
More competitive markets
Inflationary pressures
Higher employee satisfaction
Increased investment in technology
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to advocates, how does the minimum wage help reduce poverty?
By reducing taxes
By lifting the earnings of low-income workers
By increasing government subsidies
By controlling rent prices
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one advantage of a national minimum wage related to economic growth?
It reduces the need for social welfare programs
It stimulates economic growth by boosting consumer spending
It encourages outsourcing
It simplifies payroll processing
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What could be a consequence of higher minimum wages on consumer prices?
Decrease in prices due to higher competition
Increase in prices as businesses pass on higher labour costs
Stabilization of prices due to government intervention
Reduction in consumer demand
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