Until About 10 Years Ago, Most Studies in Labor Economics

question 21

Essay

Until about 10 years ago, most studies in labor economics found a small but significant negative relationship between minimum wages and employment for teenagers. Two labor economists challenged this perceived wisdom with a publication in 1992 by comparing employment changes of fast-food restaurants in Texas, before and after a federal minimum wage increase.
(a)Explain how you would obtain external validity in this field of study.
(b)List the various threats to external validity and suggest how to address them in this case.

Identify diseases and disorders associated with the respiratory system and their characteristics.

Understand the process of aerobic respiration and the transport of gases in the body.

Describe the anatomical structure of the human respiratory system and the flow of air through it.

Understand the diffusion of gases across the respiratory membrane and factors affecting it.

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Definitions:

Total Inventory

The total amount of goods and materials held in stock by a business at a given time, including raw materials, work-in-progress, and finished goods.

Cash Discounts

A reduction in invoice price offered by sellers to buyers as an incentive for early payment.

Credit Terms

Conditions under which credit is extended by a lender to a borrower, including payment due dates, interest rates, and repayment schedules.

Credit Period

The time frame granted by a creditor within which payment for a purchase must be made; typically used in commercial transactions.