An Effective Minimum Wage Law Will Increase the Quantity of Labor

question 221

True/False

An effective minimum wage law will increase the quantity of labor demanded.

---

Definitions:

Rate Of Return

The upward or downward movement in an investment's value across a defined duration, detailed as a percentage of its initial expenditure.

Insurance Agent

A professional who sells, solicits, or negotiates insurance policies on behalf of an insurer.

Annuity

A financial service that ensures a regular payout to an individual, mainly intended as financial support for retirees.

EAR

Effective Annual Rate, the interest rate adjusted for compounding over a specified period, providing a true annual rate.