Refer to Scenario 1

question 45

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. A graph of the value of the minimum wage on one axis and the level of teenage unemployment on the other axis is an example of

• A) an economic theory.
• B) an economic model.
• C) inductive reasoning.
• D) a variable theory.

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Definitions:

Intercalated Discs

Specialized structures located at the cell boundaries in cardiac muscle fibers that facilitate the coordinated contraction of the heart muscle.

Cardiac Muscle

Involuntary, striated type of muscle found in the vertebrate heart. Compare with smooth muscle and skeletal muscle.

Rigor Mortis

A temporary stiffening of muscles occurring after death as a result of chemical changes in muscle tissues.

Calcium Ions

Charged particles of calcium that play key roles in blood clotting, muscle contraction, and nerve function.