An decrease in the minimum wage will tend to cause:

1. An increase in the quantity demanded of labor: When the minimum wage decreases, employers are more likely to hire more workers because the cost of labor has decreased. This leads to an increase in the quantity demanded of labor.

2. An increase in the number of workers employed: As mentioned above, when labor becomes cheaper, employers are more likely to hire. This leads to an increase in the number of workers employed.

3. An increase in the quantity supplied of labor: When the minimum wage decreases, more people may be willing to work for lower wages, leading to an increase in the quantity supplied of labor.

4. A reduction in poverty: This is a bit more complex. While more people might be employed due to a decrease in the minimum wage, these people are also earning less. This could potentially lead to an increase in poverty, not a reduction. However, this largely depends on other factors such as the cost of living and social safety nets.

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An decrease in the minimum wage will tend to cause:

1. An increase in the quantity demanded of labor: When the minimum wage decreases, employers are more likely to hire more workers because the cost of labor has decreased. This leads to an increase in the quantity demanded of labor.

2. An increase in the number of workers employed: As mentioned above, when labor becomes cheaper, employers are more likely to hire. This leads to an increase in the number of workers employed.

3. An increase in the quantity supplied of labor: When the minimum wage decreases, more people may be willing to work for lower wages, leading to an increase in the quantity supplied of labor.

4. A reduction in poverty: This is a bit more complex. While more people might be employed due to a decrease in the minimum wage, these people are also earning less. This could potentially lead to an increase in poverty, not a reduction. However, this largely depends on other factors such as the cost of living and social safety nets.

Knowee AI · Accepted Answer

An decrease in the minimum wage will tend to cause:

1. An increase in the quantity demanded of labor: When the minimum wage decreases, employers are more likely to hire more workers because the cost of labor has decreased. This leads to an increase in the quantity demanded of labor.

2. An increase in the number of workers employed: As mentioned above, when labor becomes cheaper, employers are more likely to hire. This leads to an increase in the number of workers employed.

3. An increase in the quantity supplied of labor: When the minimum wage decreases, more people may be willing to work for lower wages, leading to an increase in the quantity supplied of labor.

4. A reduction in poverty: This is a bit more complex. While more people might be employed due to a decrease in the minimum wage, these people are also earning less. This could potentially lead to an increase in poverty, not a reduction. However, this largely depends on other factors such as the cost of living and social safety nets.

An decrease in the minimum wage will tend to cause which of the following?Group of answer choicesAn increase in the quantity demanded of laborAn increase in the number of workers employedAn increase in the quantity supplied of laborA reduction in poverty

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