Which of the following statements about minimum wages is true? a) Minimum wage laws may make some workers better off and others worse off. b) Minimum wage laws make employers worse off. c) Both a) and b) are true. d) None of the above are true.

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06-12-2022
Business

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Which of the following statements about minimum wages is true? a) Minimum wage laws may make some workers better off and others worse off. b) Minimum wage laws make employers worse off. c) Both a) and b) are true. d) None of the above are true.

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Tutorconsortium435idn Tutorconsortium435idn · Answer 1 · 2022-12-12T15:43:23-05:00

If the government increases the minimum wage, recruiting workers would cost more, which will cause some businesses to fire certain employees, particularly those with poor skill levels.

What laws govern wages in India?

The relevant Government sets minimum salaries for all employments in accordance with the Minimum Wages Act of 1948. The Act gives State Governments the authority to set the minimum wage for various jobs in India. India's National Floor Level of Minimum Wages is currently 160 rupees per day.

What are the pay policies?

The phrase "Wage Policy" refers to legislation or government action taken to regulate the level or structure of wages or both in order to accomplish specified social and economic policy goals.

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