The Economic Analysis of Minimum Wage Involves Both Normative and Positive

question 112

Multiple Choice

The economic analysis of minimum wage involves both normative and positive analysis. Consider the following consequences of a minimum wage:
a. The minimum wage law causes unemployment.
b. A minimum wage law benefits some groups and hurts others.
c. In some cities such as San Francisco and New York, it would be impossible for low-skilled workers to live comfortably in the city without minimum wage laws.
d. The gains to winners of a minimum wage law should be valued more highly than the losses to losers because the latter primarily comprises businesses.
Which of the consequences above are positive statements and which are normative statements?

• A) a, b, and c are positive statements and d is a normative statement.
• B) a and b are positive statements, c and d are normative statement.
• C) Only a is a positive statement, b, c, and d are normative statements.
• D) a and c are positive statements, b and d are normative statements.

Recognize the major innovations brought by Giotto and their departure from the Italo-Byzantine style.

Identify key figures of the Renaissance and their contributions to the development of the style.

Understand the influences of different styles (Byzantine, French Gothic, Hellenistic, Classical) on Renaissance and medieval art.

Recognize the characteristics and influences in the works of major artists like Duccio, Nicola Pisano, and Simone Martini.

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Definitions:

Lower South

A geographic term referring to the southernmost states of the U.S., often associated with deep historical ties to plantation agriculture and the Confederacy.

Seceded

To formally withdraw from membership in a federation, union, political entity or organization, often referring to the withdrawal of states from the United States leading to the Civil War.

Paternalist Ethos

A social attitude that emphasizes the need for authorities to guide or restrict the actions of those deemed less experienced or capable, often justified by a belief in the latter's best interest.

Nat Turner's Rebellion

A slave rebellion led by Nat Turner in Virginia in 1831, which resulted in the deaths of dozens of white people and led to harsher laws against slaves.