Give reasons why there should be no minimum wage laws

Q: The imposition of a binding minimum wage makes all workers affected by it better off.

A: The statement is false Minimum wage is like a price floor which is set above the equilibrium wage.…

Q: With the rise of minimum wage in the U.S., will suppliers ask procurement to accept price hikes? How…

A: While it is common logic that an increase in minimum wages leads to an increase in prices as the…

Q: Do you think that minimum wage laws affect overall poverty?

A: In an economy, often times the government enacts minimum wage laws in order to prevent the wages…

Q: The minimum wage is often offered as a possible way to address the income gap. There is, however, a…

A: Minimum wage is the lowest wage below which an employee cannot hire workers.

Q: What Is the Effect of the Minimum Wage on Employment ?

A: Minimum wage rate is the minimum wage that the employer should pay to the employee.  The minimum…

Q: What is a minimum wage? Explain why it may fail to help the poor households in an economy.

A:

Q: Are teenagers better off when a higher minimum wage enables some to earn higher wages but causes…

A: The minimum wage if happens to be larger than the equilibrium wage would cause a rise in…

Q: statements

A: In a competitive market, Adam Smith, the 18th-century economist who developed modern economics, used…

Q: . Would you support the minimum wage law? Would this help or hurt the workers? Defend your answer.

A: Minimum wage act: - it ensures the minimum amount of wage for workers. Unemployment: - unemployment…

Q: Who bears the motherhood wage penalty

A: Lower hourly pay is linked to motherhood.

Q: what are the disadvantages of rise in minimum wage

A: The minimum amount of compensation that a business is expected to pay wage workers for the work…

Q: According to the Heritage Foundation report, what are two possible negative effects of an increase…

A: 1) With an increase in minimum wage to 15$, less skilled people will be the worst hit, as with an…

Q: Name two ways real minimum-wage earners are different from people’s stereotype of minimum- wage…

A: We are going to differentiate the Real wage earner and Stereotype wage earner to answer this…

Q: what impact does minimum wages have on the labor market? Discuss giving examples

A: The impacts of the minimum wage on the labor market are the following: Unemployment Uncompetitive…

Q: Summarize the evidence regarding the impact of the minimum wage on employment.

A: Minimum wage on employment is a concept introduced as a method to alleviate wage rise and inequality…

Q: List and explain all possible impacts of minimum wage

A: Wage(w)- It is the compensation (in terms of money) given to a person(labor who is providing…

Q: What is the link between marginal revenue product and wages?  Does this notion of marginal revenue…

A: Minimum wage laws are the laws formed by the government of a nation which direct employers to…

Q: Evaluate this statement: "All minimum wage workers would be better off if the minimum wage rose to…

A: Wage:The monetary compensation or remuneration paid to the person against the service or work…

Q: Minimum wage is an example of what kind of economic

A: Minimum wage means the minimum amount of wage/remuneration that an employer is required to pay to…

Q: What are the similarity and difference between "Minimum Wage Laws" and "Theory Of Efficiency Wages"…

A: Minimum wage law is the law of paying minimum wage to the employees. The minimum wage is determine…

Q: How many states have increased their minimum wage since 2009?

A: As employees are motivated by rising salaries, raising the minimum wage aids in enhancing employee…

Q: Twenty-nine states and the District of Columbia have a state minimum wage higher than the federal…

A: There is a proposal  to double the wage in an hour. the rise would be phased in over several years.…

Q: The minimum wage is an example of

A: To find : minimum is which type of example.

Q: Analyze the impact of an increase in the minimum wage from the current level to $15 per hour.  How…

A: The  minimum wage  is that an employer is required to pay wage earners for labour performed within a…

Q: Research at the University of Washington concluded that when Seattle raised its minimum wage, the…

A: Minimum Wage: Minimum wage is the wage control set by the government to ensure higher income of…

Q: A man said, “the implementation of Minimum Wage Law has nothing to do with the increase in wages of…

A: Minimum wage law means a particular wage rate which is above equlibrium wage level. Government…

Q: Are minimum wage laws efficient? Why or why not?

A: Minimum wage law: When the government or its institutions made it mandatory in the eyes of the law…

Q: What is minimum wage in your own words? Why are you not against minimum wage?

A: Minimum wage: - The minimum wage is the basic wage or the minimum amount of wage which must be…

Q: On the basis of the Diagram 1 below, the minimum wage laws are good for economic wellbeing.  State…

A: Economic social well being :This is defined as the 'ability to create a virtuous circle in which…

Q: Suppose that in an effort to help low-skill workers the government raises the permissible minimum…

A: Minimum wage: Minimum wage is the wage rate that is determined by the government of the country and…

Q: What are the main costs and benefits of increasing the minimum wage?

A: The lowest wage that companies pay to workers is called minimum wage rate. The benefits of…

Q: DRAW THE MINIMUM WAGE CURVE AND EXPLAIN ALL DETAILS- DEFINITION, RESULTS,ETC.-

A: Equilibrium is achieved at the output level where quantity supplied equals quantity demanded.

Q: What are the pros and cons of increasing the minimum wage

A: Employers who give higher wages to their employees are said to be paying efficiency wages. This…

Q: The table gives the demand and supply of teenage labor. Wage rate (dollars Quantity demanded…

A: What a person values an economic good at is determined by how much benefit they gain from it. A…

Q: What are the welfare effects of a binding minimum wage? Use a graphical approach to show what…

A: Answer in step 2.

Q: Would consumers have to pay the price for increasing minimum wage?

A: Increasing the minimum wage changes the structure of the youth workforce. Lower-skilled teens are…

Q: What other information might the government find useful in assessing the minimum wage given its…

A: Introduction: According to federal law, a salary is that the lowest rate per hour that an employee…

Q: Discuss the impact of minimum wage laws on labour supply?

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…

Q: In regards to minimum wage, should there be a national standard or should minimum wage be regulated…

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: Illustrate and explain the impact of a minimum wage on the labour market.

A: In the labour market, the equilibrium wage is determined by the demand and supply curve of the…