Economists Disagree About Whether Increasing the Minimum Wage Is a Good

question 61

Multiple Choice

Economists disagree about whether increasing the minimum wage is a good idea,because they put different weight on the importance that the negative impacts have relative to the positive impacts.As such,the disagreements are usually over

• A) normative issues
• B) positive issues
• C) the mathematical calculations in an economic model
• D) whether microeconomics or macroeconomics is more important
• E) whether economic theory is useful in explaining the behavior of actors in the economy

Distinguish between different types of tort liabilities and their applicability.

Recognize the role and interpretation of causation in negligence cases.

Grasp the significance and application of the "but for" rule in establishing causation.

Understand the principles and implications of strict liability.

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Definitions:

UCC

This code, known as the Uniform Commercial Code, is an extensive assortment of legal rules that supervise commercial exchanges in the United States.

Common Law

A legal system characterized by case law and legal precedents established by court decisions, as opposed to statutory laws enacted by governmental bodies.

Consideration

The benefit, interest, right, or profit that induces a party to enter into a contract; a fundamental component of a valid contract.

Common Law

A body of legal rules and principles based on court judgments and customs, rather than formal statutes or legislations.