Bill raising federal minimum wage to $15 heads to U.S. House floor The bill to gradually raise the federal minimum wage to $15 from $7.25 by 2024 has cleared a legislative hurdle that sets it up for a vote by the House of Representatives in the coming weeks. What will be the effects of a $15 an hour minimum wage? f the minimum wage rate of $15 is above the equilibrium wage rate, then setting the minimum wage at $15 an hour will OA. minimize the resources used in job search OB. increase employment and eliminate any deadweight loss OC. increase unemployment and create a deadweight loss OD. create an efficient labor market OE. increase the number of low-skilled jobs available With a $15 minimum wage. A. all workers gain OB. all employers and workers lose OC. only small businesses lose OD. all workers and businesses gain OE. employers lose and workers who can't find jobs lose. Workers who find jobs gain
Bill raising federal minimum wage to $15 heads to U.S. House floor The bill to gradually raise the federal minimum wage to $15 from $7.25 by 2024 has cleared a legislative hurdle that sets it up for a vote by the House of Representatives in the coming weeks. What will be the effects of a $15 an hour minimum wage? f the minimum wage rate of $15 is above the equilibrium wage rate, then setting the minimum wage at $15 an hour will OA. minimize the resources used in job search OB. increase employment and eliminate any deadweight loss OC. increase unemployment and create a deadweight loss OD. create an efficient labor market OE. increase the number of low-skilled jobs available With a $15 minimum wage. A. all workers gain OB. all employers and workers lose OC. only small businesses lose OD. all workers and businesses gain OE. employers lose and workers who can't find jobs lose. Workers who find jobs gain
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
Section: Chapter Questions
Problem 8PA
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