Question

Consider the following statement:

"Increasing the minimum wage reduces inequality."
This statement... • A. could be true or false because while some people may make more money, others at the bottom of the income
distribution may lose employment and make less money
•B. is false because the minimum wage decreases employment at the bottom of the income distribution
• C. could be true or false because business owners will make less money, while workers will make more money
D.• is true because the wages of those making the least will increase

Answer 1

TheThe following statement "Increasing the minimum wage reduces inequality" could be true or false because while some people may make more money, others at the bottom of the income distribution may lose employment and make less money.What is the minimum wage?A minimum wage is a legally determined minimum payment that employers are required to pay to their workers. This is usually dependent on industry, state, and country, and can range from a few dollars to tens of dollars per hour. The basic principle behind minimum wage is to ensure that even the lowest-paid employees are compensated adequately for their services. As a result, increasing the minimum wage has the potential to help those who need it the most.However, the statement "Increasing the minimum wage reduces inequality" could be true or false because while some people may make more money, others at the bottom of the income distribution may lose employment and make less money.