Wonderland just raised its minimum wage (which was already above
the market equilibrium level). What would happen to the employment
in Wonderland?
1) More people will enter the job market (i.e., look for jobs),
2) employers will want to hire less workers, 3) unemployment level
will increase.
1) More people will enter the job market (i.e., look for jobs),
2) employers will want to hire more workers, 3) unemployment level
will increase.
1) Less people will look for jobs, 2)...