describe these influences as increasing or decreasing, and indicate the direction of the resulting movement along or shift in the relevant labor demand and/or supply curve(s). Will wage rates rise or fall?
Demand and supply conditions in the market for unskilled labor are an important concern to business and government decision makers. Consider the case of a federally-mandated minimum wage set above the equilibrium or market clearing wage level. Some of the following factors have the potential to influence the demand or quantity d