Answered

Which of the following viewpoints explains opposition to increasing the minimum wage?

A. A higher minimum wage increases profitability.
B. Employers do not need economic liberty.
C. Higher paying jobs will be lost because employers will have to direct their money to paying higher minimum wages.



Answer :

GinnyAnswer

Final answer:

The opposition to increasing the minimum wage is rooted in concerns about potential job losses and increased unemployment.


Explanation:

Opposition to increasing the minimum wage can be explained by the viewpoint that higher minimum wages might lead to increased unemployment. In competitive labor markets, it is argued that a rise in the minimum wage can reduce employment levels. While some economists suggest that a higher minimum wage could benefit unskilled workers, others highlight potential negative impacts on job opportunities.


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