On April 1, 2009, in the middle of a recession, the government of the province of Ontario, Canada increased the provincial minimum wage from $8.75 to $9.50. What will the likely effect of this policy be? Question 32 options: Both the leftward shift in the labor demand curve and the higher minimum wage will lead to an increase in the unemployment rate. Low income workers will be better able to survive the recession at the new, higher wage rate. More people will be hired at the higher wage rate offsetting the effects of the recession. The higher wage will increase the supply of labor offsetting the effects of the recession.

Answered: On April 1, 2009, in the middle of a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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On April 1, 2009, in the middle of a recession, the government of the province of Ontario, Canada increased the provincial minimum wage from $8.75 to $9.50. What will the likely effect of this policy be?

Question 32 options:

	Both the leftward shift in the labor demand curve and the higher minimum wage will lead to an increase in the unemployment rate.
	Low income workers will be better able to survive the recession at the new, higher wage rate.
	More people will be hired at the higher wage rate offsetting the effects of the recession.
	The higher wage will increase the supply of labor offsetting the effects of the recession.