If the Government Lowered the Minimum Wage but This Had

question 43

Multiple Choice

If the government lowered the minimum wage but this had no effect on unemployment, one possible explanation could be:

• A)those who are already unemployed refuse to work for such a low wage
• B)the equilibrium wage was already above the minimum wage
• C)most of the unemployed are teenagers who don't require high wages
• D)the equilibrium wage was below the minimum wage

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Definitions:

Compensatory Damages

Monetary awards given to a plaintiff to compensate for actual losses or damage incurred, as determined by a court.

Backpay

Compensation for past wages owed to an employee due to wrongful termination, underpayment, or other inappropriate workplace practices.

Criterion-Related Validity

The extent to which a test's scores are correlated with an independent measure or outcome relevant to the intended use of the test.

Objective Criterion

A measurable factor that serves as a basis for decision-making or evaluation, not influenced by personal feelings, interpretations, or prejudice.