Under what conditions might an increase in the
minimum wage not reduce the number of low-wage jobs? How much
of a job loss is acceptable?
can you answer it by typing without graph please short
answer
Under what conditions might an increase in the
minimum wage not reduce the number of low-wage jobs? How much
of a job loss is acceptable?
can you answer this question by typing
please
Show graphically how an increase in the minimum wage might
affect unemployment in (i) a perfectly competetive market and (ii)
a labor market characterized by monopsony.
Q1. The minimum wage is an example of a ________ that might lead
to a _________.
a)
price ceiling; shortage of labor
b)
price floor; shortage of labor
c)
price ceiling; surplus of labor
d)
price ceiling; deadweight loss
e)
price floor; black market for labor
Q2. When I pay less for a good than I actually would have been
willing to pay,
a)
I am behaving unethically
b)
I receive some producer’s surplus
c)
I receive some consumer’s surplus...
1 Discuss the impact of an increase in the minimum wage on
demand and supply for labor and the overall market.
2 Explain the effect of free trade trade on economic
growth?
A researcher is evaluating whether an increase in the minimum
hourly wage had an effect on employment in manufacturing industry
in the following three months. Taking a sample of 25 firms, 1. [3
points] what should she conclude if the mean decrease in employment
is 9 percent and the standard error of the mean is 5 percent (use
5% significance level)? 2. [3 points] what should she conclude if
the mean decrease in employment is 12 percent and the standard...
QUESTION 1
The impact on the labor market due to an increase in the minimum
wage:
Is significant since it increases employment.
Cannot be measured unless the increase is more than $1.
Depends on factors such as the size of the increase and the
state of the economy.
Is significant since it reduces unemployment.
1 points
QUESTION 2
An upward-sloping supply curve of labor illustrates that
the:
Supply of labor and the wage rate are inversely related.
Quantity of...
Analyze the impact of an increase in the minimum wage from the
current level to $15 per hour. How would the following be affected?
a. employment of people previously earning less than $15 per hour
b. the unemployment rate of teenagers c. the availability of
on-the-job training for low-skilled workers d. the demand for
high-skilled workers who are good substitutes for low-skilled
workers Review the mechanics of price floors and price ceilings.
Why does a price floor lead to surpluses?...