alleryStart learning →The 15,080 dollars earned at full-time minimum wage was compared with a 2016 public university year costing:
A39,548 dollars
B19,548 dollars
C10,548 dollars
D29,548 dollars
Answer & Solution
Correct answer: B. 19,548 dollars
1. The comparison sets earnings against a single college year.
2. Full-time minimum wage work earns 15,080 dollars before taxes.
3. The College Board estimated the cost of a year of college at a public university.
4. For 2016 that estimate was 19,548 dollars.
5. Minimum wage earnings therefore fell below that figure.
_Source: OpenStax Principles of Microeconomics for AP Courses 2e (CC BY 4.0), Ch 15 'Labor Markets and Income'_
Keep practising Labor Markets and Income
Browse all Labor Markets and Income questions for AP Microeconomics, or explore more Economics topics.
Related questions
Complete the union storyTap what belongs to each sideOrder the union bargaining chainTrue or false: labor marketsMatch each labor market termLabor markets are described as one example of a broader category, namely:A union that wins higher wages without any productivity gain raises the firm's:Working full time at minimum wage, at 40 hours per week for 52 weeks, earns before taxes: