select the correct answer.\nwhich statement is false?\na. a society accepts minimum wage laws as a method of…

select the correct answer.\nwhich statement is false?\na. a society accepts minimum wage laws as a method of determining wages.\nb. the market value of a good determines wages.\nc. the quality of a good determines wages.\nd. employee productivity determines wages.\ne. the price floor determines the minimum wage.

select the correct answer.\nwhich statement is false?\na. a society accepts minimum wage laws as a method of determining wages.\nb. the market value of a good determines wages.\nc. the quality of a good determines wages.\nd. employee productivity determines wages.\ne. the price floor determines the minimum wage.

Answer

Brief Explanations:

  • Option A: Minimum wage laws are a common societal method to set wage floors, so this is true.
  • Option B: Market value of goods can influence wages (e.g., industries with high - value goods may pay more), so this is a valid factor.
  • Option C: The quality of a good is not a direct determinant of wages. Wages are more related to factors like productivity, market forces, and legal regulations (like minimum wage laws) rather than the quality of the goods a business produces.
  • Option D: Employee productivity is a key factor in determining wages (more productive employees often earn more), so this is true.
  • Option E: Minimum wage is a price floor in the labor market, so the price floor concept is related to minimum wage determination, and this is true.

Answer:

C. The quality of a good determines wages.