The Economic Analysis of Minimum Wage Involves Both Normative and Positive

question 436

Multiple Choice

The economic analysis of minimum wage involves both normative and positive analysis.Consider the following consequences of a minimum wage:
a.The minimum wage law causes unemployment.
b.A minimum wage law benefits some groups and hurts others.
c.In some cities such as San Francisco and New York,it would be impossible for low-skilled workers to live in the city without minimum wage laws.
d.The gains to winners of a minimum wage law should be valued more highly than the losses to losers because the latter primarily comprises businesses.
Which of the consequences above are positive statements and which are normative statements?

• A)a, b, and c are positive statements and d is a normative statement.
• B)a and b are positive statements, c and d are normative statement.
• C)Only a is a positive statement, b, c and d are normative statements.
• D)a and c are positive statements, b and d are normative statements.

Distinguish between dependent and independent variables in given research scenarios.

Understand the hypothesis formulation for both main and interaction effects in factorial ANOVA.

Interpret the significance levels and obtained values in the context of factorial ANOVA results.

Recognize the appropriate use of factorial ANOVA in various research designs.

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Definitions:

Work Team

A work team is an arrangement in which a group is given responsibility for designing the work system to be used in performing an interrelated set of jobs.

Interrelated Set

A collection of elements or components connected in such a way that they affect and depend on each other, often seen in systems or processes.

Performance Feedback

Information given to individuals about their job performance, designed to guide and improve future performance.

Effective Performance

A level of functioning or achievement that successfully meets or exceeds set standards or expectations.