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g"Which of the following statements is true about minimum wage laws? Select Answer A. Minimum wage laws are a successful tool to lift people out of poverty. B. Minimum wage laws encourage employers to hire unskilled labor. C. A minimum wage law set above the equilibrium wage will not affect the labor market. D. All of the above are true. E. None of the above are true."

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henrydesanta

Answer:

The correct the answer is A. Minimum wage laws are a successful tool to lift people out of poverty.

Explanation:

The minimum wage laws are established to ensure that the employees are not exploited and that they receive a fair amount of pay to ensure a proper standard of living. This however, does not encourage employers to hire unskilled labor and minimum wages affects the labor market.

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