Minimum-Wage Laws Are the Only Valid Explanation for Why So

question 69

True/False

Minimum-wage laws are the only valid explanation for why so many young people are unemployed.

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Definitions:

Labor Supply

The total amount of hours employees are ready and capable of working for a specified rate of pay.

Payroll Tax

A tax imposed on employers or employees, and is typically calculated as a percentage of the salaries that employers pay their staff.

Tax Shifting

The process whereby the economic burden of a tax is passed on from one group to another.

Income Tax

A tax levied by governments on individuals or entities based on their income or profits, varying according to earnings levels.