$30 a week boost to minimum wage The government increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that a $35 a week increase was unaffordable. Source: ABC Australia, February 11, 2011 The graph shows a market for low-skilled labor. If the minimum wage is set at $570 a week, If the minimum wage is set at $540 a week, OA. some people who want a job can't get one; everyone who wants a job has one OB. firms cannot hire all the labor they want; everyone who wants a job has one OC. everyone who wants a job has one; firms cannot hire all the labor they want OD. everyone who wants a job has one; some people who want a job can't get one O 3 590- 580- 570- 560- 550- 540- 530- 520- 510+ 9.8 Wage rate (dollars per week) A D 10 10.1 9.9 Quantity (millions of hours per year) S 10.2 Next E

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
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Chapter27: Wages, Unions, And Labor
Section27.3: Effects Of Labor Unions
Problem 2ST
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$30 a week boost to minimum wage
The government increased the minimum wage by $30 a week to $570 a week.
Unions wanted a $35 a week increase, but employers argued that a $35 a week.
increase was unaffordable.
Source: ABC Australia, February 11, 2011
The graph shows a market for low-skilled labor. If the minimum wage is set at
$570 a week,
If the minimum wage is set at $540 a week,
OA. some people who want a job can't get one;
everyone who wants a job has one
B. firms cannot hire all the labor they want;
everyone who wants a job has one
OC. everyone who wants a job has one;
firms cannot hire all the labor they want
OD. everyone who wants a job has one;
some people who want a job can't get one
590-
580-
570-
560-
550
540-
530-
520-
510+
9.8
Wage rate (dollars per week)
A
D
9.9
10.1
10
Quantity (millions of hours per year)
S
10.2
Next
Q
Q
G
Transcribed Image Text:$30 a week boost to minimum wage The government increased the minimum wage by $30 a week to $570 a week. Unions wanted a $35 a week increase, but employers argued that a $35 a week. increase was unaffordable. Source: ABC Australia, February 11, 2011 The graph shows a market for low-skilled labor. If the minimum wage is set at $570 a week, If the minimum wage is set at $540 a week, OA. some people who want a job can't get one; everyone who wants a job has one B. firms cannot hire all the labor they want; everyone who wants a job has one OC. everyone who wants a job has one; firms cannot hire all the labor they want OD. everyone who wants a job has one; some people who want a job can't get one 590- 580- 570- 560- 550 540- 530- 520- 510+ 9.8 Wage rate (dollars per week) A D 9.9 10.1 10 Quantity (millions of hours per year) S 10.2 Next Q Q G
Click on the icon to read the news clip, then complete the following steps.
The graph shows the market for fast-food workers.
Draw a point to show the wage rate and the number of fast-food workers employed
if the minimum wage is:
1) $13.00 an hour. Label the point 1.
2) $15.00 an hour. Label the point 2.
In the graph, at a minimum wage of $15.00 an hour
wage of $13.00 an hour
OA. some workers are unemployed;
firms cannot hire as many workers as they want
OB. no one is unemployed and firms have all the workers they want;
some workers are unemployed
OC. firms cannot hire as many workers as they want;
; and at a minimum
no one is unemployed and firms have all the workers they want
OD. some workers are unemployed;
no one is unemployed and firms have all the workers they want
C
16.00
15.00-
14.00
13.00-
12.00-
11.00-
10.00+
50
Wage rate (dollars per hour)
13.40
B
100
ADD ALABEL
202.3
S
150
200
250
Quantity (thousands of workers)
>>> Draw only the objects specified in the question.
300
D
350
Next
Transcribed Image Text:Click on the icon to read the news clip, then complete the following steps. The graph shows the market for fast-food workers. Draw a point to show the wage rate and the number of fast-food workers employed if the minimum wage is: 1) $13.00 an hour. Label the point 1. 2) $15.00 an hour. Label the point 2. In the graph, at a minimum wage of $15.00 an hour wage of $13.00 an hour OA. some workers are unemployed; firms cannot hire as many workers as they want OB. no one is unemployed and firms have all the workers they want; some workers are unemployed OC. firms cannot hire as many workers as they want; ; and at a minimum no one is unemployed and firms have all the workers they want OD. some workers are unemployed; no one is unemployed and firms have all the workers they want C 16.00 15.00- 14.00 13.00- 12.00- 11.00- 10.00+ 50 Wage rate (dollars per hour) 13.40 B 100 ADD ALABEL 202.3 S 150 200 250 Quantity (thousands of workers) >>> Draw only the objects specified in the question. 300 D 350 Next
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