New Jersey Raises Its Minimum Wage While Neighboring Pennsylvania Does

question 105

Multiple Choice

New Jersey raises its minimum wage while neighboring Pennsylvania does not.Economists compared the labor market in both states to draw conclusions about the effect of a minimum wage on employment and wages.This is an example of:

• A)simulation economics.
• B)a natural experiment.
• C)an economic principle.
• D)the economic decision rule.

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Definitions:

Lost Wax

A method of metal casting in which a molten metal is poured into a mold that has been created using a wax model, which is then melted away and lost.

Repoussé

Formed in relief by beating a metal plate from the back, leaving the impression on the face. The metal sheet is hammered into a hollow mold of wood or some other pliable material and finished with a graver. See also Relief.

Drilling

The process of making holes in a solid substrate by using a rotating tool called a drill, often used in construction, manufacturing, and resource extraction.

Price Discrimination

The business practice of selling the same good at different prices to different customers.