Minimum Wage Laws Often Block Transactions Between Employers and Workers

question 23

Multiple Choice

Minimum wage laws often block transactions between employers and workers that would otherwise occur at wage rates below the minimum.As a result,minimum wage laws tend to

• A) improve equity at the expense of efficiency.
• B) improve efficiency at the expense of equity.
• C) improve both equity and efficiency.
• D) reduce both equity and efficiency.

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Definitions:

Unconditioned Response

A reflexive, organic response to a stimulus that takes place without prior training or conditioning.

Classical Conditioning

The technique of learning by the repeated conjunction of two stimuli; a reaction that is first elicited by the second stimulus is eventually elicited by just the first stimulus.

Little Albert

An experiment in classical conditioning conducted by John B. Watson and Rosalie Rayner, where a young boy was conditioned to fear a white rat.

Observational Learning

A process of learning that occurs through watching others, retaining the information observed, and later replicating the behaviors that were observed.