When People Become Unemployed Because of a Higher Minimum Wage

question 177

Multiple Choice

When people become unemployed because of a higher minimum wage, this type of unemployment is called

• A) frictional.
• B) structural.
• C) cyclical.
• D) abnormal.

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Definitions:

Null Hypothesis

A hypothesis that assumes no significant difference or relationship between variables until evidence suggests otherwise.

Independent Means

Independent means refers to comparing the mean values of different groups in a study that are not related or interconnected.

T-statistic

A type of statistic used to estimate the significance of a parameter derived from a sample data set.

Statistically Significant

A determination that the observed effects or differences in data are unlikely to have occurred by chance, according to a pre-determined threshold.