On the preceding graph, use the purple line (diamond symbol) to show the effect this employer mandate has on the supply of labor.Suppose the wage is free to balance supply and demand.Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) toindicate the equilibrium wage and level of employment after this law implemented.True or False: Employers and employees are made better off by this law.TrueO FalseSuppose that, before the mandate, the wage in this market was $3 above the minimum wage.In this case, the wage rate with the employer mandate will bean increase in the level of unemployment.Now suppose that workers do not value the mandated benefit at all.Which of the following statements are true under this circumstance? Check all that apply.Employers are worse off than before the mandated benefit.The supply curve of labor doesn't shift at all.$7 per hour, which will lead to a decreaseThe wage rate will decline by exactly $4.Employees are neither better nor worse off than before the mandated benefit.The equilibrium quantity of labor will rise.in the level of employment and Suppose that Congress passes a law requiring employers to provide employees some benefit (such as healthcare) that raises the cost of an employeeby $4 per hour. Assume that firms were not providing such benefits prior to the legislation.On the following graph, use the green line (triangle symbol) to show the effect this employer mandate has on the demand for labor.Wage (Dollars per hour)20181614121086420Demand456 7Quantity of Labor (Thousands)0 1 2 38Supply910New DemandNew Supply++Equilibrium Before LawEquilibrium After Law(?)

Employer Wage rate:The wage rate at which the quantity of labor supplied equals the quantity…

On the preceding graph, use the purple line (diamond symbol) to show the effect this employer mandate has on the supply of labor. Suppose the wage is free to balance supply and demand. Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) to indicate the equilibrium wage and level of employment after this law is implemented. True or False: Employers and employees are made better off by this law. True O False Suppose that, before the mandate, the wage in this market was $3 above the minimum wage.

On the preceding graph, use the purple line (diamond symbol) to show the effect this employer mandate has on the supply of labor. Suppose the wage is free to balance supply and demand. Use the black point (plus symbol) to indicate the equilibrium wage and level of employment before this law, and use the grey point (star symbol) to indicate the equilibrium wage and level of employment after this law is implemented. True or False: Employers and employees are made better off by this law. True O False Suppose that, before the mandate, the wage in this market was $3 above the minimum wage.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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