Labor unions are composed of high-skilled workers, but generally support minimum wage laws that typically affect only low-skilled workers. Their support makes more sense by considering that low-skilled labor is a ______ for high-skilled labor, and minimum wages ______ the quantity demanded of low-skilled labor.

Question

Quizplus · Accepted Answer

Low-skilled labor is a substitute for high-skilled labor, and minimum wages decrease the quantity demanded of low-skilled labor, potentially benefiting high-skilled workers by reducing competition.

Labor Unions Are Composed of High-Skilled Workers, but Generally Support