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Explain how low-skilled workers might actually be made worse off from a minimum wage law in terms of working conditions and job training. In addition, what might be the long-run impact on wages and earnings?
Legal Obligation
A duty enforceable by law, derived from statute, contract, or legal precedent.
Unilateral Contract
An agreement in which one party makes a promise to do something in return for an act of some sort.
Required Action
A specific action that is mandated or obligatory under the terms of a contract, law, or directive.
Cloud Computing
Internet-based computing where data, software, and processing power are accessed over the web, rather than from personal computers or servers.
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