Companies don’t have to but many a times do pay higher than minimum wages? Explain each briefly. Which (one or both) of these instances of paying above minimum wage to its employees do you think is a smart decision on part of the company and why? Who gains from these decisions and who loses?

Q: what does the effectiveness of minimum wage depend on?

A: The minimum wage is the lowest wage rate that employers are legally required to pay to their…

Q: Describe the original rationale and purpose of the creation of a “minimum wage. When did this happen…

A: The original rationale and purpose of the creation of a “minimum wage The minimum wage was…

Q: information on the minimum wage act in jamaica and when was it implemented and what penalties…

A: The term "minimum wage" refers to the bare minimum of compensation that companies must give their…

Q: Think of a job that either you or a friend/relative held that paid a wage that you thought was…

A: The term "wage" describes the remuneration or money that an employer gives to a worker in return for…

Q: An increase in the minimum wage to $6 would cause million people to be unemployed.

A: market equilibrium is where the market demand equals market supply. According to the graph, market…

Q: Who bears the motherhood wage penalty

A: Lower hourly pay is linked to motherhood.

Q: Should the government raise the minimum wage? Why or why not? Take a stand and explain.

A: Minimum wage is the equilibrium wage that is determined in the labor market by the the intersection…

Q: Which law sets out minimum standards for employment in Ontario?

A: The term "minimum standards for employment" refers to the minimal legal requirements that must be…

Q: What are the pros and coms of paying efficiency wages? For both the firm and the employee

A: Wage Efficiency Theory The efficiency wage theory proposes that raising wages will enhance labor…

Q: what impact does minimum wages have on the labor market? Discuss giving examples

A: The impacts of the minimum wage on the labor market are the following: Unemployment Uncompetitive…

Q: What are the effects of minimum wages?

A: The objective of this question is to understand the various effects of implementing minimum wages in…

Q: Topic : Minimum Wage & Working at your local Dairy Queen part time for $9/hour, 36 hours weekly.…

A: Working at my local Dairy Queen part-time for $9 /hour, 36 hours weekly, earning around $250-$260…

Q: How does an increase in the minimum wage impact small businesses in terms of employment rates and…

A: Minimum wage is defined as the minimum amount that an employer is required to pay the employee for…

Q: In what ways can people exercise their right to work and fair pay?

A: Work is very important as people want to work, have jobs, and increase their livelihood and income.…

Q: Convince me that the minimum wage should NOT be increased. Use key terms. Cite examples.

A: Minimum wage is the legalised lowest wage which is given to workers in monetary terms for their…

Q: Why do professional football players earn a higher wage than college professors

A: Wage:The term wage indicates the compensation or remuneration that is paid in terms of money against…

Q: What Republicans party think about Minimum wage?

A: The legal minimum compensation that a company must provide to its employees for their labor is known…

Q: would the equity and efficiency effects of raising the minimum wage to $20/

A: Raising the legal minimum wage should, in theory, benefit both the representative and the loser.…

Q: What is minimum wage in your own words? Why are you not against minimum wage?

A: Minimum wage: - The minimum wage is the basic wage or the minimum amount of wage which must be…

Q: What are the main costs and benefits of increasing the minimum wage?

A: The lowest wage that companies pay to workers is called minimum wage rate. The benefits of…

Q: What factor limits the amount a firm can pay a worker to produce a product?

A: The firm uses the labor or worker as long as it is profitable. The productivity of labor decides the…

Q: What are the welfare effects of a binding minimum wage? Use a graphical approach to show what…

A: Answer in step 2.

Q: minimum wage

A: Minimum wage is the least wage that can be paid by the authorities to employees legally. Workers…

Q: How do minimum wages affect wages, employment, and unemployment?

A:

Q: The minimum number of employees required to trigger application of most workplace protections, such…

A: There are many laws and act have been made for the protection of employees. ADA , civil rights Act…

Q: During last summer you agreed with your neighbors to mow their lawn for $20 per hour of work. This…

A: The wages are the payment made by the employer to the temporary labor who works according to hours…