Increases in the minimum wage are an effective way to increase employment and living standards for low-income households.

Question

Quizplus · Accepted Answer

Increases in the minimum wage can lead to higher incomes for some low-income workers, but they can also result in job losses or reduced hours for others, as employers may cut back on hiring or automate jobs to offset the higher labor costs. The overall effect on employment and living standards for low-income households is therefore mixed and can vary depending on the specific economic context and how significant the wage increase is.

Increases in the Minimum Wage Are an Effective Way to Increase