Minimum wages ________.

Name: Minimum wages ________.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Minimum wages can increase the cost of hiring for employers, leading them to hire fewer workers or cut hours, which can result in higher unemployment. Options A and B are not necessarily true as minimum wages may benefit some workers but not all, and it may not necessarily reduce wage rigidity. Option D is incorrect as minimum wages are set above the equilibrium wages in the labor market to ensure workers are paid at least a certain amount.

Minimum Wages ________