n order to improve the living standards of the people in Philippines after the devastating typhoon Haiyan, the government decided to increase the labour wage per hour from AUD 17.50 to AUD 25.00. Also, Philippines experienced structural unemployment and frictional unemployment. What is the hardest type of unemployment that Philippines experienced as a result of typhoon Haiyan? Explain your answer. Use the figure below to examine the effects of the government minimum wage of AUD 25.00 in Philippines. Examine the effect of government minimum wage of AUD 25.00. Assume the increase labour is equivalent to the total labour force and calculate the unemployment rate.
n order to improve the living standards of the people in Philippines after the devastating typhoon Haiyan, the government decided to increase the labour wage per hour from AUD 17.50 to AUD 25.00. Also, Philippines experienced structural unemployment and frictional unemployment. What is the hardest type of unemployment that Philippines experienced as a result of typhoon Haiyan? Explain your answer. Use the figure below to examine the effects of the government minimum wage of AUD 25.00 in Philippines. Examine the effect of government minimum wage of AUD 25.00. Assume the increase labour is equivalent to the total labour force and calculate the unemployment rate.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter26: Factor Markets: With Emphasis On The Labor Market
Section26.1: Factor Markets
Problem 2ST
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In order to improve the living standards of the people in Philippines after the devastating typhoon Haiyan, the government decided to increase the labour wage per hour from AUD 17.50 to AUD 25.00. Also, Philippines experienced structural
What is the hardest type of unemployment that Philippines experienced as a result of typhoon Haiyan? Explain your answer.
- Use the figure below to examine the effects of the government minimum wage of AUD 25.00 in Philippines.
- Examine the effect of government minimum wage of AUD 25.00. Assume the increase labour is equivalent to the total labour force and calculate the unemployment rate.
Transcribed Image Text:40.00
35.00
30.00
DD
25.00
20.00
15.00
10.00
5.00
5.
10
15
20
25
30
Labor supply (Millions)
Wage / hour (AUD)
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