A Stated Goal of a Minimum Wage Is to

question 219

Multiple Choice

A stated goal of a minimum wage is to

• A) increase government tax revenue.
• B) stabilize production costs.
• C) boost the incomes of low-wage earners.
• D) decrease business profits.
• E) increase business profits by making the labor market more efficient.

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Definitions:

Sociocultural

Relating to the combined social and cultural factors that influence an individual's behavior and attitudes.

Learning Perspective

A psychological approach that emphasizes the effects of experience on behavior, suggesting that learning is the key to understanding how people behave.

Cognitive Perspective

A psychological approach that emphasizes mental processes such as perception, memory, and problem-solving as the key to understanding human behavior.

Biological Perspective

An approach in psychology that examines psychological disorders and behaviors from a biological standpoint, focusing on genetics, neurotransmitters, and brain structures.