If minimum wage legislation does not cause unemployment, then:
A. those who work for minimum wage will benefit.
B. firms will generally gain by earning higher profits.
C. minimum wages may still be binding for many employees.
D. most likely the government won’t study how minimum wage legislation may affect employment.
A. those who work for minimum wage will benefit.
Economics
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a. Negative b. Positive c. between zero and one only d. zero.
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A statement describing how the world should be
a. is a normative statement. b. is a positive statement. c. would only be made by an economist speaking as a scientist. d. would only be made by an economist employed by the government.
Economics