### Understanding Wage Discrepancy: An Analysis of Childcare Workers' WagesA state-funded report in Florida highlights the wage gap between landscapers and childcare workers. Typically, childcare workers are predominantly female, while landscapers are predominantly male. To address this disparity, the state has enacted comparable worth legislation aimed at balancing wages between these two professions. In the context of this legislation, an analysis has been conducted to understand its impact on the market for childcare workers. The following graph depicts the market dynamics for childcare workers and illustrates the effect of an imposed hourly wage requirement of $11.00 per hour.#### Graph Analysis- **Y-Axis**: Represents the hourly wage in dollars.- **X-Axis**: Represents the number of workers.The graph includes the following curves:- **Supply Curve** (upward sloping): Shows the relationship between the wage rate and the number of childcare workers willing to work.- **Demand Curve** (downward sloping): Shows the relationship between the wage rate and the number of childcare workers employers are willing to hire.- **Wage Line** (horizontal at $11/hour): Illustrates the imposed minimum wage requirement.At the intersection of the supply and demand curves, the market determines the equilibrium wage and employment levels. The imposed wage requirement of $11/hour results in different market dynamics.#### Question**What impact did this legislation have on the level of employment of childcare workers?**- ☑️ Employment decreases by 100, and the size of the surplus equals 250 childcare workers.- ☐ Employment increases by 150, and the size of the surplus equals 250 childcare workers.- ☐ Employment decreases by 150, and the size of the shortage equals 250 childcare workers.- ☐ Employment increases by 100, and the size of the shortage equals 250 childcare workers.**Answer Explanation**:Adjusting the wage line on the graph to $11.00/hour shows that at this imposed wage, the quantity of childcare workers supplied exceeds the quantity demanded, leading to a surplus. The graph analysis indicates that this surplus amounts to 250 workers, with employment levels decreasing by 100 due to the higher than equilibrium wage.

In the terms of economics, work/employment implies the condition of having some work or being…

A state funded report in Florida brings media attention to the wage gap between landscapers and childcare workers are largely female, landscapers are largely male. The state passes comparable worth legislation to bring this wage discrepancy into balance. The graph represents the market for childcare workers. Adjust the wage line to illustrate the impact an hourly wage requirement of $11.00/hour has on this market. 15 14 13 12 11 supply What impact did this legislation have on the level of employment of childcare workers? Employment decreases by 100, and the size of the surplus equals 250 childcare workers. Employment increases by 150, and the size of the ourplug aquela 250 ohildoor rkora

A state funded report in Florida brings media attention to the wage gap between landscapers and childcare workers are largely female, landscapers are largely male. The state passes comparable worth legislation to bring this wage discrepancy into balance. The graph represents the market for childcare workers. Adjust the wage line to illustrate the impact an hourly wage requirement of $11.00/hour has on this market. 15 14 13 12 11 supply What impact did this legislation have on the level of employment of childcare workers? Employment decreases by 100, and the size of the surplus equals 250 childcare workers. Employment increases by 150, and the size of the ourplug aquela 250 ohildoor rkora

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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