25. Which of the following statements is correct? a. A disadvantage of a minimum-wage law is that it may benefit unskilled workers who are low income workers. b. A disadvantage of a negative income tax program is that a poor person who chooses not to work many hours would not receive a cash benefit. c. There are no disadvantages to minimum-wage laws,

25. Which of the following statements is correct? a. A disadvantage of a minimum-wage law is that it may benefit unskilled workers who are low income workers. b. A disadvantage of a negative income tax program is that a poor person who chooses not to work many hours would not receive a cash benefit. c. There are no disadvantages to minimum-wage laws,

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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QUESTION 19 Which of these is NOT a component of the 2016 Social Security reform proposal by Democratic lawmakers? O a. an increase in minimum benefits to 25% above the poverty line b. an increase in benefits by 2% for all recipients O c. a more generous cost-of-living adjustment O d. lower payroll taxes
List and explain all possible direct and indirect potential impact of minimum wage on 1. Employment 2. Poverty 3. Inequality
Wage $12 $11 $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 T S Tools / $5.50 D 0 1 2 3 4 5 6 7 8 9 10 Labor $6.50 ■. The government introduces a minimum wage of $5.50. Draw a horizontal ne to identify the minimum wage on the graph.
O A. II, Guaranteed Basic Income OB. IV, Wage Subsidy OC. II, Guaranteed Basic Income O D. II, Earned Income Tax Credit
7.Draw a theoretical market for low-skilled labor along with a non-binding minimum wage. Indicate if there is a shortage or surplus; and if there is, explain what it means
An effective minimum wage imposes a price ceiling on the wages of various categories of low-skill workers. increases the demand for low-skill workers. makes it easier for low skill workers to find jobs. O increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.
How would imposing a minimum wage below the market-clearing wage affect employment in a competitive labor market? Group of answer choices a. Employment would be unchanged because the market forces drive the wage to a higher level. b. Employment would decrease as some workers who are willing to work at the lower competitive wage would no longer be able to find work. there would be a shortage of labor c. Employment would increase because setting a minimum wage below the market wage would increase the quantity of labor demanded d. Employment would decrease because the quantity of labor supplied would decrease
Ten college students have accepted job offers for the year after they graduate. Their starting salaries are given here. Organize the data into quintiles and then, using these data, draw the Lorenz curve for this group. Finally, calculate the relevant Gini coefficient. Becky $42000 Billy $20000 Charlie $31000 Kasia $24000 Nina $34000 Raul $37000 Rose $29000 Thomas $35000 Willis $60000 Yukiko $32000 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.
Give explanation of the correct option and explanation of the incorrect options. No answer from Chat Gpt please will dislike Hand written solutions are strictly prohibited.
Name two factors that explain a decrease in the use of incarceration?
1. Proponents of the minimum wage argue that it will not reduce employment. Opponents argue the opposite. a. What factor determines who is correct in this debate, and under what condition will each side be correct? Use a diagram to explain your answer.