Examlex
_______________ is the extent to which the results of a study can be generalized across populations, times, and settings, is the touchstone for natural and social scientists alike.
Income Effect
A change in the consumption patterns of individuals arising from a change in their real income, due to shifts in prices or income levels.
Unskilled Workers
Workers who have no specific training or specialized skills and usually perform simple tasks that require limited education.
Minimum Wage
The minimum wage permitted by law that employers can pay their employees, whether it's calculated by the hour, day, or month.
Backward-Bending Labor Supply Curve
As the wage rate rises, more and more people are willing to work longer and longer hours up to a point. They will then substitute more leisure time for higher earnings.
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