Q8. I am missing an answer. It’s more than 2 of my answers. QUESTION 8Most government policy decisions have winners and losers. What are the effects of raising the minimum wage? It is morecomplex than simply producers lose and workers gain. Who are the winners and who are the losers?(May be more than one answer).✔People who can now go on welfare are winnersO Consumers are losers because many goods and services will cost moreO People who keep their job are winnersBusinesses are winners because they will always have better workers✔Marginal workers are losers if their job is a riskQUESTION 9O발hpSave4

Answered: QUESTION 8 Most government policy…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Q8. I am missing an answer. It’s more than 2 of my answers.

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Minimum wage is the lowest legal amount that an employer can pay to an employee for their work. It is typically established by a government or a labor union, and applies to all or most workers within a certain jurisdiction or industry. The purpose of a minimum wage is to ensure that workers receive a fair wage that allows them to meet their basic needs and maintain a decent standard of living.

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