All of the following are true for the minimum wage, except which one?

Question

Quizplus · Accepted Answer

The minimum wage does not necessarily benefit all workers. While those who earn below the minimum wage will receive a raise, those who were earning at or slightly above the minimum wage may see their wages decline as firms adjust to the new wage floor. Additionally, some workers may lose their jobs altogether as firms choose to reduce their workforce or substitute capital for labor in response to the higher wages.

All of the Following Are True for the Minimum Wage