Question 1
Refer to the information provided in Figure 28.3 below to answer the question(s) that follow.
Refer to Figure 28.3. A firm might pay wages above $10 per hour if it believes such a wage will result in all of the following
except
◦ reduce worker shirking.
◦ reduce worker turnover.
◦ improve worker moral.
◦ agitate unions.
Question 2
Refer to the information provided in Figure 28.3 below to answer the question(s) that follow.
Refer to Figure 28.3. A minimum wage of $10
◦ will lead to unemployment of 20.
◦ will lead to unemployment of 40.
◦ will lead to unemployment of 60.
◦ will have no effect because the minimum wage is set at the equilibrium wage and for a minimum wage to have any effect on the labor market it must be below the equilibrium wage.
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