A(n)________ is an index wage that requires the minimum wage to be at least what someone who works 40 hours a week needs to stay out of poverty.
A)wage ratio
B)living wage
C)wage ceiling
D)efficiency wage

Question

Quizplus · Accepted Answer

A living wage is an index wage that requires the minimum wage to be at least what someone who works 40 hours a week needs to stay out of poverty. Wage ratio and wage ceiling are not related to this concept. Efficiency wage is a different concept altogether, referring to a higher wage paid to workers in order to increase their productivity.

A(n)________ Is an Index Wage That Requires the Minimum Wage