If the Elasticity of Demand for Labor Is Greater Than

question 120

Multiple Choice

If the elasticity of demand for labor is greater than one,then imposing a minimum wage will cause

• A)the firms' total wage bill to fall.
• B)employment to rise.
• C)the firms' total wage bill to rise.
• D)no adverse employment effects.

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Definitions:

Stanford-Binet

A standardized test that measures intelligence and cognitive abilities in children and adults, developed initially by Alfred Binet and later refined at Stanford University.

WISC-III

The Wechsler Intelligence Scale for Children-Third Edition, a tool used to assess the intelligence of children ages 6 through 16.

Valid Test

An assessment instrument that accurately measures what it is intended to measure, demonstrating both reliability and validity.

Correlation Coefficient

A number that represents the strength and direction of a relationship existing between two variables; number derived from the formula for measuring a correlation.