The Chicago City Council considered a "living wage" ordinance that would raise the minimum wage in Chicago to about $10 an hour. How did most economists probably view this legislation?
A) It is a proposal that is meant to help everyone.
B) The city will benefit because more people will move to Chicago.
C) All people looking for work will be helped, but consumers will be hurt.
D) Workers who can find work will be helped, but some people will lose their jobs.
Correct Answer:
Verified
Q84: All of the following are possible explanations
Q85: Supply and demand analysis can explain:
A) how
Q86: Business lobbyists tend to argue against a
Q87: Firms pay efficiency wages because these wages:
A)
Q88: Wages under a bilateral monopoly are generally:
A)
Q90: A market in which there is only
Q91: Efficiency wages tend to:
A) increase costs in
Q92: Comparable worth laws:
A) always distort market outcomes
Q93: Demand-side discrimination occurs when:
A) employers pay women
Q94: Discrimination based on individual characteristics that don't
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