'An Increase in the Federal Minimum Wage Causes an Increase

question 89

Multiple Choice

'An increase in the federal minimum wage causes an increase in unemployment among teenagers' is a:

• A) statement of positive economics.
• B) statement of normative economics.
• C) testable value judgement.
• D) fallacy of composition.

---

Definitions:

Payment Fund

A reserve of money that is set aside to cover future payments, debts, or expenses.

Fixed Amount

A precise sum or quantity that does not change or vary.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.

Market Conditions

The various factors that can affect the supply and demand for products and services, influencing their prices.