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A study of the effects of the minimum wage on employment of low-skilled workers estimated the price elasticity of demand for low-skilled workers is -0.75.Suppose that the government is considering raising the minimum wage from $7.25 per hour to $7.75 per hour.Based on this information, calculate the percentage change in the employment of low skilled workers.Use the midpoint formula.
Deception
The act of misleading or deceiving someone by presenting false information or concealing the truth.
Ethics Guidelines
A set of principles designed to help professionals conduct their business honestly and with integrity, often provided by professional organizations to guide behavior.
American Psychological Association
A large scientific and professional organization of psychologists in the United States, dedicated to advancing psychology as a science and profession.
Debriefing
The process of providing participants with an explanation of the study's purpose and methods after its completion.
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