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Author Question: A rise in the dollar price of the Chinese yuan signals an appreciation of the yuan and a ... (Read 49 times)

dollx

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on: Jun 29, 2018
A rise in the dollar price of the Chinese yuan signals an appreciation of the yuan and a depreciation of the dollar.
 
  Indicate whether the statement is true or false

Question 2

Most economists are in agreement that minimum wages cause unemployment and make some people worse off as a result. However, does that imply that it makes everyone worse off? Who might benefit?
 
  What will be an ideal response?


zogaridan

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Reply #1 on: Jun 29, 2018
Answer to Question 1

TRUE

Answer to Question 2

Clearly people who are still fortunate enough to hold on to their jobs will experience a rise in their income. Also, minimum wage laws typically cover work done by workers who have lower levels of skill because of youth, inexperience and lack of education and training. The higher wages that they earn makes other workers labor demand rise if it is considered as a substitute for low skilled minimum-wage-protected workers.


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