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:

Double approach-avoidance

A psychological conflict involving two goals or situations, each possessing both attractive (approach) and repulsive (avoidance) aspects, making decision-making more complex.

Double approach-avoidance

A psychological conflict that involves making a decision between two options, both of which have positive and negative elements to consider.

Avoidance-avoidance

A conflict involving a choice between two equally undesirable outcomes, leading to stress and difficulty in decision-making.

Approach-approach

A conflict situation where an individual has to choose between two attractive options or goals.