Many people argue against increasing the minimum wage because they believe the result would be increased unemployment. Which of the following best summarizes this argument? A higher minimum wage would
a. increase the supply of labor while decreasing the demand for labor
b. decrease the supply of labor while increasing the demand for labor
c. increase the quantity supplied of labor while decreasing the quantity demanded of labor
d. decrease the quantity supplied of labor while increasing the quantity demanded of labor
e. increase the supply of labor while decreasing the quantity demanded of labor
C
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Correlation of the regression error across observations
A) results in incorrect OLS standard errors. B) makes the OLS estimator inconsistent, but not unbiased. C) results in correct OLS standard errors if heteroskedasticity-robust standard errors are used. D) is not a problem in cross-sections since the data can always be "reshuffled."
Explain the effect of Federal tax policy on the cost of health insurance
What will be an ideal response?