"An Increase in the Federal Minimum Wage Causes an Increase

question 60

Multiple Choice

"An increase in the federal minimum wage causes an increase in unemployment among teenagers" is a:

• A) statement of positive economics.
• B) statement of normative economics.
• C) testable value judgment.
• D) fallacy of composition.

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Definitions:

Lease Payments

Periodic payments from a lessee to a lessor in exchange for the use of an asset for a set duration.

Tax Benefit

A deduction, credit, or exemption that reduces taxable income or tax liability, provided to incentivize certain activities or investments.

Operating Lease

A lease agreement for the use of an asset without ownership, typically with shorter terms than a finance lease.

Lessor

An entity or individual who leases or rents out an asset to another, known as the lessee, under a lease agreement.