"Minimum wage legislation is enacted to protect livelihoods and reduce the risk of vulnerable employment". Discuss this statement within the backdrop of the Sustainable Development Goals (SDGS) on employment and indicate whether minimum wages are justifiable or not.
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A: Unemployment is the phenomenon which describes the number of people who are willing and able to work…
Q: (Figure: Labor Market) Refer to the labor market shown here. Suppose a minimum wage of $18 per hour…
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Q: Ghana and Cote d'Ivoire are the world’s leading exporters of cocoa, which are grown and harvested by…
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Q: Discuss the effects of minimum wage legislation on employment .
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Q: Which of the following legislative constraints applies to the issue of minimum wage? a. human rights…
A: The answer is - b. trade union legislation
Q: Refer to Figure 4-18. If this graph represents a labor market in a fictional country, which of the…
A: The market refers to a place where the sale and purchase of goods or services take place to fulfill…
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: the supply of labor will not change if all prices and wage rates by the same percentage is it true…
A: The supply of labor will not change if all prices and wage rates by the same percentage – False
Q: Question 10 Wage per Hour 40 SAR Quantity of Labor Supplied 160 Quantity of Labor Demanded 240 220…
A: Given: Minimum wage is 100 SAR per hour.
Q: MINIMUM WAGE LEGISLATION IS ENACTED TO PROTECT LIVELIHOODS AND REDUCE THE RISK OF VULNERABLE…
A:
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…
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A: Anwer is in 2nd step
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A: Wage (Dollars per hour) Quantity demanded (units) Quantity supplied (units) 8 6000 16000 7 9000…
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A: At equilibrium, quantity demanded of labor is equal to quantity supplied of labor.
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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: pasured in thousands of workers) and W stands for the wage rate (measured in dollars per hour): D =…
A: Equilibrium is achieved at the level where Ls = Ld in order to attain market clearing level.
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A: Minimum wage: Minimum wage is the wage rate that is determined by the government of the country and…
Q: The likely consequence of a binding minimum wage on a labour market is... a. A higher wage for all…
A: A minimum wage is the lower limit on wages. Wages cannot fall below minimum wage.
Q: Below tables shows the data on labor market of Drivers in Muscat city of Oman. Wage rate Monthly in…
A: Wage rate Quantity demanded Quantity supplied Excess quantity 200 4500 2000 -2500 250 4000…
Q: Will raising the minimum wage or establishing a living wage help reduce poverty in America and…
A: Minimum wage is the lowest wage below which an employee cannot hire workers.
Q: true or false? The entrance of more workers into a particular labor market is likely to drive down…
A: The market refers to a place where the sale and purchase of goods or services take place to fulfill…
Q: minimum wage
A: Minimum wage is the least wage that can be paid by the authorities to employees legally. Workers…
Q: Support a higher minimum wage. Analyze the challenges that this will be for households, firms, and…
A: The minimum wage is the minimum remuneration offered to the employees against the work done.
Q: How do minimum wages affect wages, employment, and unemployment?
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Q: conomic effect of nationwide minimum wage rate
A: A national minimum wage is the minimum compensation is guaranteed for his labor services by the…
Q: minimum wage laws may cause unemployment. What age group is most adversely affected
A: Minimum wage laws means minimum wage govt sets below which no one will be employed. This is to…
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…
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A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…
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- Discuss minimum wage legislation within the backdrop of the Sustainable Development Goals on employment and indicate whether minimum wages are justifiable or not.Analyzing the labor market using the supply and demand model: minimum wage law and increasing the minimum wage creates excessive labor supply hence unemployment. However, do you think increasing the minimum wage is good or bad? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.Consider the information below on the labor market in a given country. Wage Rate/Hour Quantity Demanded of Labor Quantity Supplied of Labor $4 400 workers 75 workers $5 300 workers 125 workers $6 200 workers 200 workers $7 140 workers 250 workers $8 100 workers 300 workers $9 70 workers 350 workers $10 45 workers 400 workers If the government wanted to implement a minimum wage, which of the following potential minimum wage would be binding and affect the market? Group of answer choices $5 $4 $6 $7
- States, cities and towns use all of the following incentives to attract and keep employers except: 15. a. Offering tax breaks b. Negotiating reduced rates for electricity c. Sponsoring science parks d. Developing import-export banks e. Supporting technology extension centers 16. Statement I: Compared to other industrial countries, the United States does a mediocre job of educating primary and secondary students in math and science Statement ll: To help remedy mediocre performance by students in math and science, and other subject matter areas of study the federal government insists on a minimum level of funding per capita for primary and secondary public school students a. Statement I and statement lI are both true b. Statement I and statement II are both false Statement I is true and statement Il is false c. d. Statement I is false and statement lI is true 17. Lowering regulatory barriers to overseas investment and imported products is part of: a. “fair trade” b.…Women’s empowerment movement eyes 40% of government spending accreditation …Last year the South African government affirmed its support for women-owned businesses as part of its commitment to ensuring that gender equality in Africa’s most advanced economy was achieved. President Cyril Ramaphosa said then: “We are going to drive women’s economic inclusion through public procurement. We have set the target of ensuring that 40% of goods and services procured by public entities are procured from women-owned business.” a) Market participation. b) Government spending. c) Commercialisation. d) Nationalisation.Analyze the effects of the economic issues in the country on the following scenarios. Answer in no more than 5 sentences. A. Labor Market The purpose of House Bill 7787 (National Minimum Wage Law of 2018) is to have a unifrom national minimum wage amount of Php 750.00. As such, there will be no more varying rates depending on the region. This bill has been pending at Congress. What would be the economic effect of nationwide minimum wage rate?
- In a market economy, the compensation of labour is determined by the interaction of demand and supply in each labour market, relative compensation by the interaction of relative demand and supply. A higher price for labour leads to a higher quantity of labour supplied, a lower price leads to a lower quantity supplied and prices and wages help coordinate economic activities. Do you agree this statement if so Why?Ghana and Cote d'Ivoire are the world’s leading exporters of cocoa, which are grownand harvested by a large labour force that includes many children. Assume Ghana andCote d'Ivoire now outlaws the use of child labour on cocoa farms and the law is properlyenforced. Using economic theory and with the aid of diagrams, analyze what wouldhappen to employment and wages in the cocoa farming industry. Use supply anddemand curves in your analysis.The imposition of a binding minimum wage makes all workers affected by it better off.Explain why above statements is True, False, or Uncertain according to economic principles. Use diagrams where appropriate.
- On December 30, 1974, the hypothetical country Alpha decided to introduce a minimum wage policy. Cities with ID numbers 11, 23, 45, 57, 60, and 61 were randomly chosen to implement this minimum wage policy. The remaining cities in country Alpha did not adopt a minimum wage policy. You are asked to empirically and theoretically evaluate the impact of the introduction of the minimum wage in country Alpha on the labour market outcomes. Assuming there is no labour mobility and using the basic model of minimum wage, how do you expect the introduction of this policy to change the existing equilibrium wage and employment rate in the affected cities?Proponents of socialism contend that it willa. prevent workers from exerting significant control over social policy.b. lead to increased profits for owners.c. allow workers to exert significant control over work organizations.d. result in very inactive governments.In regards to minimum wage, should there be a national standard or should minimum wage be regulated by the state?