Minimum-Wage Legislation Is Likely to Be Least Effective in Reducing

question 59

True/False

Minimum-wage legislation is likely to be least effective in reducing poverty when the demand for labour is inelastic.

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Definitions:

Variable-Interval

A schedule of reinforcement where a response is rewarded after an unpredictable amount of time has passed, resulting in a steady but slow rate of response in behaviorist psychology.

Fixed-Ratio

A schedule of reinforcement where a response is rewarded after a set number of responses.

Variable-Ratio

A schedule of reinforcement where a response is rewarded after an unpredictable number of responses.

Fixed-Interval

In operant conditioning, a fixed-interval schedule is a reinforcement pattern where a response is rewarded only after a specified amount of time has elapsed, leading to a response pattern where actions are more frequent as the time for reward approaches.