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Which of the following is true of the minimum wage? It has significantly reduced poverty in the United States o A worker earning the minimum wage will keep a family of three out of poverty o It results in a much more equal distribution of income in the United States Unemployment rates are unaffected by the minimum wage None of the above is true QUESTION 20 Marginal private cost (MPC) always includes: o negative externalities in consumption . The extra costs of production of one more unit of a good as incurred by the producers o The additional benefits received by consumers from the consumption of the good The costs imposed on society from pollution The expenditures by government to control negative externalities QUESTION 21 When there are no externalities, equilibrium in a market 0 maximizes social well-being o equates quantity supplied and quantity demanded o equates MSB and MSC o equates MPB and MPC . does all of the above QUESTION 22 Technically speaking, it is possible that a product may (at the same time) include any type of externalities, either in production or consumption or both positive externality in production, only if there is a negative externality in consumption negative externality in production, only if there is a negative externality in consumption positive externality in production, only if there is a positive externality in consumption negative externality in production, only if there is a positive externality in consumption