The Empirical Evidence on the Minimum Wage

question 190

Multiple Choice

The empirical evidence on the minimum wage

• A)is mixed; some studies show employment increasing, but most do not
• B)shows that employment always falls when the minimum wage is increased
• C)shows that employment always rises when the minimum wage is reduced
• D)suggests that most labor markets are not competitive markets
• E)indicates that wages are highest in industries that are subject to the minimum wage

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Definitions:

Psychodynamic

A psychological perspective that focuses on the dynamic interplay between conscious and unconscious processes in shaping personality and behavior.

Behavioural

Pertaining to the actions or reactions of a person or animal in response to external or internal stimuli.

Humanistic

Pertaining to an approach in psychology that emphasizes individual choice and potential, focusing on the human capacity for growth and self-actualization.

Personality Traits

Enduring characteristics or behaviors that define an individual's patterns of thought, feeling, and behavior.