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NEW QUESTION: 1
In a competitive market, an increase in the minimum wage will likely have the following effects:
A. Firms currently paying above the new minimum wage would generally raise their pay rates (although
the new minimum wage creates a new floor for employee wage bargaining purposes).
B. If a marginally more expensive form of capital is available to substitute for labor (e.g., due to
technological advances), firms will reduce their use of labor.
C. Total employment will likely decrease in affected industries and generate unemployment. Employers
will demand a smaller number of workers while a larger number of workers will be attracted by the higher
wage.
D. Firms paying at the current minimum wage rate would generally be unaffected if the marginal revenue
produced by the lowest paid workers does not exceed the new higher cost of the worker. Many firms
would thus be forced to work more efficiently.
Answer: C
Explanation:
Choice "c" is correct. With an increase in the minimum wage, total employment will likely decrease in
affected industries and generate unemployment. Employers will demand a smaller number of workers
while a larger number of workers will be attracted by the higher wage.
Choice "a" is incorrect. Firms currently paying above the new minimum wage would generally be
unaffected, not raise their pay rates.
Choice "b" is incorrect. Firms paying at the current minimum wage rate would attempt to reduce labor, not
generally be unaffected.
Choice "d" is incorrect. If a marginally cheaper, not more expensive.
Volume C

NEW QUESTION: 2
To ensure that due professional care has been taken during an audit engagement, an internal auditor should always:
A. Notify the audit committee of any noncompliance or irregularity discovered during an engagement.
B. Document all audit tests completely.
C. Ensure that all financial information related to the engagement is included in the audit plan and examined for irregularities.
D. Consider the possibility of noncompliance or irregularities at all times during an engagement.
Answer: D

NEW QUESTION: 3
Application developers are reporting Access Denied errors when trying to list the contents of an Amazon S3 bucket by using the IAM user "arn:aws:iam::111111111111:user/application". The following S3 bucket policy is in use:

How should a SysOps Administrator modify the S3 bucket policy to fix the issue?
A. Change the "Action" from "s3:List*" to "s3:ListBucket"
B. Change the "Effect" from "Allow" to "Deny"
C. Change the "Resource" from "arn:aws:s3:::bucketname/*" to "arn:aws:s3:::bucketname"
D. Change the "Principal" from "arn:aws:iam::111111111111:user/application" to
"arn:aws:iam::111111111111: role/application"
Answer: C

NEW QUESTION: 4
HOTSPOT


Answer:
Explanation:

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