A Shortage of Unskilled Labor Will Occur If the Minimum

question 2

True/False

A shortage of unskilled labor will occur if the minimum wage is set below the equilibrium wage in the unskilled labor market.

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Definitions:

Alternative Hypothesis

The hypothesis that proposes a significant difference, relationship, or effect, against the null hypothesis.

One-way ANOVA

A statistical test that analyzes the differences among three or more groups' means based on one independent variable.

Alternative Hypothesis

A proposition that suggests a statistical relationship or difference exists between data sets, typically tested against the null hypothesis.

One-way ANOVA

A statistical test that compares the means of three or more independent groups to see if there is a significant difference among them.