Supporters of raising the minimum wage argue that minimum-wage laws are

a. a tax-free way to help the working poor. Businesses bear the burden of paying higher wages, not the government.
b. better than the Earned Income Tax Credit (EITC) in targeting the working poor. The EITC may benefit teenagers from middle-class families who work summer jobs at the minimum wage.
c. better than in-kind transfers such as food stamps in providing food rather than unhealthy items such as drugs or alcohol.
d. a way to increase employment of those likely to earn the minimum wage.

a

Economics

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Figure 4.5 illustrates a set of supply and demand curves for hamburgers. A decrease in supply and a decrease in demand are represented by a movement from

A) point b to point d. B) point c to point a. C) point a to point b. D) point d to point a.

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Cartel members have a collective interest in ____ industry output and a private interest in ____ their own output

a. increasing; increasing b. increasing; decreasing c. decreasing; increasing d. decreasing; decreasing

Economics