A Disadvantage Associated with a Minimum Wage Law to Reduce

question 123

Multiple Choice

A disadvantage associated with a minimum wage law to reduce poverty is that it

• A)encourages illegitimate births because single women with children receive higher payments.
• B)rewards laziness because it provides payments to those with low incomes regardless of their work effort.
• C)focuses on children and the disabled while neglecting the working poor.
• D)may benefit the teenage children of families who are not poor.

Analyze the need for government intervention in addressing ethical challenges.

Understand the concept and applications of a contextual approach to ethics.

Explain the implications of positive approaches to ethics.

Discuss the concept of nudging in consumer behavior.

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Definitions:

Status Quo

Refers to the current state or existing set of affairs, often used in the context of maintaining the same condition without change.

Pricing Strategy

A plan or approach used by businesses to set the prices of their products or services in order to maximize profitability and market share.

Gas Station

A facility selling fuel and lubricants for motor vehicles, often including convenience store items and services.

Premium Pricing

A strategy of setting prices higher than competitors to reflect a product's perceived value and quality, targeting consumers willing to pay more.