Suppose that a minimum wage is set that is higher than wages for retail workers. This is ________ news for shoppers and ________ retail workers.

Question

Quizplus · Accepted Answer

A higher minimum wage may lead to higher prices for shoppers, which is bad news for them. However, it may be good news for some retail workers who will receive higher wages, but it may also lead to layoffs or reduced hours for other workers, which is not good news for them. Therefore, it is good news for some, but not all.

Suppose That a Minimum Wage Is Set That Is Higher