Minimum Wage Impacts and Consequences

Minimum Wage Impacts and Consequences

Assessment

Interactive Video

Social Studies, Business, Economics

9th - 12th Grade

Practice Problem

Hard

Created by

Patricia Brown

FREE Resource

The video discusses the imposition of a national minimum wage, highlighting both its benefits and drawbacks. Benefits include reducing poverty, closing the income gap, and incentivizing work. However, it may also lead to unemployment, especially among youth, and increase business costs. Regional differences and potential impacts on government finances are also considered.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the primary goals of implementing a national minimum wage?

To promote international trade

To decrease inflation

To increase government revenue

To reduce income inequality

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does a national minimum wage potentially reduce poverty?

By boosting earnings for low-paid workers

By lowering taxes

By increasing the cost of living

By reducing government spending

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential benefit for businesses when a minimum wage is implemented?

Decreased employee turnover

Increased training costs

Higher unemployment rates

Lower productivity

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential negative impact of a national minimum wage?

Decreased worker morale

Lower business costs

Higher unemployment rates

Increased employment opportunities

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might young workers be adversely affected by a minimum wage?

They may lack skills to justify higher wages

They are more experienced

They are more likely to be employed

They have higher productivity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can regional differences impact the effectiveness of a national minimum wage?

By creating uniform living standards

By ignoring cost of living variations

By increasing government control

By reducing business competition

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential fiscal impact on the government when implementing a minimum wage?

Lower inflation rates

Increased tax revenue

Decreased public spending

Higher costs if employing low-paid workers

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