Refer to Scenario 1

question 157

Multiple Choice

Refer to Scenario 1.1 below to answer the question(s) that follow.
SCENARIO 1.1: An economist wants to understand the relationship between minimum wages and the level of teenage unemployment. The economist collects data on the values of the minimum wage and the levels of teenage unemployment over time. The economist concludes that a 1% increase in minimum wage causes a 0.2% increase in teenage unemployment. From this information he concludes that the minimum wage is harmful to teenagers and should be reduced or eliminated to increase employment among teenagers.
-Refer to Scenario 1.1. The collection and use of the data on minimum wage and teenage unemployment over time is an example of

• A) law and economics.
• B) economic history.
• C) econometrics.
• D) empirical economics.

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Definitions:

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A labor strike involving sanitation workers who refuse to collect garbage, usually to protest for better wages, working conditions, or benefits.

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A city in the southwestern part of Tennessee, known for its influential strains of blues, soul, and rock 'n' roll music, as well as its historical significance in the civil rights movement.

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Demonstrations or actions taken by students to voice dissent or demand change on issues ranging from political to educational reforms.

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The act of forcibly putting an end to something, such as dissent, movements, or activities, often through authoritative measures.