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Which of the following groups are likely to benefit from legislation substantially increasing the minimum wage? Explain why. a. Unskilled workers seeking jobs but lacking experience and education b. Skilled workers whose current wages are above the minimum wage c. Manufacturers of machines that save labor in industries employing large amounts of unskilled labor d. Unskilled workers who have criminal records e. A teenager seeking his or her first job f. Unskilled workers who retain employment after the minimum wage is raised g. Regions where almost everybody already earns substantially more than the minimum wage

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Exploring Economics

8th Edition
Robert L. Sexton
Publisher: SAGE Publications, Inc
ISBN: 9781544336329

Solutions

Chapter
Section
BuyFindarrow_forward

Exploring Economics

8th Edition
Robert L. Sexton
Publisher: SAGE Publications, Inc
ISBN: 9781544336329
Chapter 16, Problem 4P
Textbook Problem
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Which of the following groups are likely to benefit from legislation substantially increasing the minimum wage? Explain why.

a. Unskilled workers seeking jobs but lacking experience and education

b. Skilled workers whose current wages are above the minimum wage

c. Manufacturers of machines that save labor in industries employing large amounts of unskilled labor

d. Unskilled workers who have criminal records

e. A teenager seeking his or her first job

f. Unskilled workers who retain employment after the minimum wage is raised

g. Regions where almost everybody already earns substantially more than the minimum wage

To determine

(a)

To find:

The groups that get benefit from the legislation of increase in minimum wage and the reason for it.

Explanation of Solution

The legislation for substantial increase in the minimum wage will decrease the demand for labor, as job seekers will increase due to the increase in higher wages...

To determine

(b)

To find:

The groups that get benefit from the legislation of an increase in minimum wage and the reason for it.

To determine

(c)

To find:

The groups that get benefit from the legislation of increase in minimum wage and the reason for it.

To determine

(d)

To find:

The groups that get benefit from the legislation of increase in minimum wage and the reason for it.

To determine

(e)

To find:

The groups that get benefit from the legislation of increase in minimum wage and the reason for it.

To determine

(f)

To find:

The groups that get benefit from the legislation of increase in minimum wage and the reason for it.

To determine

(g)

To find:

The groups that are benefitted from the legislation of an increase in the minimum wage and the reason for it.

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