The Minimum-Wage Law Is a Common Example of a Price

question 122

True/False

The minimum-wage law is a common example of a price ceiling.

---

Definitions:

Attention

The mental act of focusing attention on a particular element of the surroundings, while disregarding other aspects.

Flynn Effect

The rise in IQ scores over generations in many nations.

IQ Scores

Numerical measurements derived from standardized tests designed to assess human intelligence and cognitive abilities relative to a statistical normal distribution.

Crystallized Intelligence

The ability to use knowledge gained from past experiences, recognizing it as a form of intellectual ability that tends to improve over a person's lifespan.