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Are minimum-wage laws a better explanation for structural unemployment among teenagers or among college graduates? Why?
Principles of Macroeconomics (Mind...
Principles of Macroeconomics (Mind...
Are minimum-wage laws a better explanation for structural unemployment among teenagers or among college graduates? Why?
Explanation of Solution
While comparing the job-related skills, the college graduates have more skills than the teenagers. Thus, the wage level for the teenagers is lower than the minimum wage...
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