The Supply Curve of Low-Skilled Labor Is Upward Sloping Because

question 112

True/False

The supply curve of low-skilled labor is upward sloping because those workers know that government will protect them with minimum wage legislation.

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Definitions:

Sociocultural

Relating to or involving the social aspects and cultural dimensions of society and their impact on human behavior and interactions.

Demographics

The characteristics of human populations that can be used to identify consumer markets.

Discretionary Income

The amount of an individual's income that is left for spending, investing, or saving after taxes and personal necessities (like food and shelter) have been paid.

Disposable Income

The amount of money an individual or household has to spend or save after taxes have been deducted.