Multiple Choice
If the cost of living is higher in richer cities than in poorer cities, and the nominal minimum wage were the same in every city, then the real purchasing power of the minimum wage would necessarily be
A) higher in the richer cities.
B) higher in the poorer cities.
C) lower in the poorer cities.
D) independent of the cost of living in any city.
Correct Answer:
Verified
Correct Answer:
Verified
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