An Increase in the Federal Minimum Wage, Assuming the Minimum

question 17

Multiple Choice

An increase in the Federal minimum wage, assuming the minimum is higher than equilibrium wage and that all other things remain constant, will:

• A) reduce the number of unemployed.
• B) increase the number of unemployed.
• C) shift the supply of labor to the right.
• D) shift the demand of labor to the right.

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Definitions:

Hypothesis Testing

A statistical method that uses sample data to evaluate a hypothesized parameter or distribution.

Theory Reconsidered

The process of reevaluating and potentially revising a theory in light of new evidence or perspectives.

Operational Definition

A clear, precise criteria for identifying or measuring a scientific concept or variable in research.

Aggression

Behavior intended to harm or injure another individual, either physically or psychologically.