Questions 14 - 15: The following diagram shows the supply and demand in the labor market in Kentria. Wage 10 9 8 7 6 5 4 3 2 1 Labor Supply Labor Demand No of Workers 10 20 30 40 50 60 70 80 90 100 Q15. The government imposes a minimum wage of $7. The size of labor force is people, the number of people employed is. people unemployed is and the number of labor force = 70, employment = 50, unemployment = 20 labor force = 70, employment = 30, unemployment = 40 == labor force = 50, employment = 50, unemployment = 0 labor force = 50, employment = 30, unemployment = 20
Questions 14 - 15: The following diagram shows the supply and demand in the labor market in Kentria. Wage 10 9 8 7 6 5 4 3 2 1 Labor Supply Labor Demand No of Workers 10 20 30 40 50 60 70 80 90 100 Q15. The government imposes a minimum wage of $7. The size of labor force is people, the number of people employed is. people unemployed is and the number of labor force = 70, employment = 50, unemployment = 20 labor force = 70, employment = 30, unemployment = 40 == labor force = 50, employment = 50, unemployment = 0 labor force = 50, employment = 30, unemployment = 20
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Questions 14 - 15: The following diagram shows the supply and demand in the
labor market in Kentria.
Wage
10
9
8
7
6
5
4
3
2
1
Labor
Supply
Labor
Demand
No of
Workers
10 20 30 40 50 60 70 80 90 100
Q15. The government imposes a minimum wage of $7. The size of labor force is
people, the number of people employed is.
people unemployed is
and the number of
labor force = 70, employment = 50, unemployment = 20
labor force = 70, employment = 30, unemployment = 40
==
labor force = 50, employment = 50, unemployment = 0
labor force = 50, employment = 30, unemployment = 20
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