Which of the following statements is correct about minimum wages?

Question

Quizplus · Accepted Answer

Minimum wages have been shown to have a significant impact on certain groups such as teenagers and unskilled workers, who are more likely to experience high unemployment rates. However, the impact of minimum wages on overall unemployment is still debated among economists. As for option A, there is no clear consensus on whether minimum wages are a predominant cause of unemployment. Option B is not entirely accurate either, as minimum wages may have effects on employment in certain situations. Option D is also not entirely true, as minimum wages may not be binding in certain labour markets where employers have more bargaining power or the cost of living is lower.

Which of the Following Statements Is Correct About Minimum Wages