Author Question: The Effect of Minimum Wage Laws, Unionism and Public PolicyWage rate (per hour) Labor DemandLabor ... (Read 12 times)

isam · **on:** Nov 23, 2022

Question 1

The Effect of Minimum Wage Laws, Unionism and Public Policy

Wage rate (per hour)	Labor Demand	Labor Supply
$15	35,000	85,000
10	60,000	60,000
7	85,000	35,000

Based on the data in the table, a minimum wage of $15 will lead to unemployment of ________ workers.
◦ 50,000
◦ 25,000
◦ 35,000
◦ 60,000

Question 2

The Effect of Minimum Wage Laws, Unionism and Public Policy

Wage rate (per hour)	Labor Demand	Labor Supply
$14	35,000	100,000
10	65,000	65,000
8	100,000	35,000

Based on the data in the table, a minimum wage of $8 will lead to unemployment of ________ workers.
◦ zero
◦ 65,000
◦ 30,000
◦ 35,000

3ginamay · **Reply #1 on:** Nov 23, 2022

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