Exhibit 13-5 
-In theory, minimum wage laws create shortages in the labor market.
Definitions:
Economic Deprivation
A condition where individuals or communities lack the financial resources and essential services to maintain a standard of living considered acceptable in society.
Poverty Rate
The percentage of the population whose income falls below the poverty line, indicating their inability to afford basic needs.
Average Income
A measure of the total income received by the average individual or household within a specified demographic or economic unit over a given period.
Female-headed Households
Families or households where the primary caregiver or head is a woman.
Q11: In the long run, a monopolistically competitive
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Q22: Reputation and cooperation are more difficult to
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Q93: Which of the following conditions results in
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Q130: The only reason for wage dispersion is
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