Asked by Claudia Aldama on May 21, 2024
Verified
A large majority of economists favor eliminating the minimum wage.
Minimum Wage
The lowest legally allowed payment that an employee can be paid for their labor.
Economists
Experts in economics who analyze and interpret economic trends, data, and policies to understand and predict financial and market behaviors.
- Assess the accuracy and impact of minimum-wage legislation on aiding workers with low income.
Verified Answer
HN
Hannah NicoleMay 25, 2024
Final Answer :
False
Explanation :
Most economists believe that a moderate minimum wage can be beneficial and do not support its complete elimination. They argue that it can increase the standard of living for low-income workers without significantly impacting employment levels.
Learning Objectives
- Assess the accuracy and impact of minimum-wage legislation on aiding workers with low income.