What percentage of the world's population subsists on incomes of less than $3 a day?

Most economists are in agreement that minimum wages cause unemployment and make some people worse off as a result. However, does that imply that it makes everyone worse off? Who might benefit?

What will be an ideal response?

The consumption schedule shows:

A. a direct relationship between aggregate consumption and accumulated wealth. B. a direct relationship between aggregate consumption and aggregate income. C. an inverse relationship between aggregate consumption and accumulated financial wealth. D. an inverse relationship between aggregate consumption and the price level.