Which of the following statements about the minimum wage in the U.S. is accurate?
A) Higher-income workers charge that minimum wage workers are often guilty of wage theft.
B) The purchasing power of the minimum wage tends to shrink over time.
C) Proponents of the minimum wage often refer to it as a "living wage" to make it sound more attractive.
D) Economists are in majority agreement that increases in the minimum wage tend to cause the economy to shed very large numbers of jobs.

Question

Quizplus · Accepted Answer

The purchasing power of minimum wage tends to shrink over time due to inflation and rising costs of living.

Which of the Following Statements About the Minimum Wage in the U.S