Some economists argue that minimum wage policy does not always lead to the unemployment consequences that are so often predicted. For the sake of argument, grant that this is true. That is, due to the passage of say, a $15 minimum wage in Virginia, no one loses his or her job. Does this prove that minimum wage policy can improve the economic circumstances of unskilled laborers? Why or why not?
Some economists argue that minimum wage policy does not always lead to the unemployment consequences that are so often predicted. For the sake of argument, grant that this is true. That is, due to the passage of say, a $15 minimum wage in Virginia, no one loses his or her job. Does this prove that minimum wage policy can improve the economic circumstances of unskilled laborers? Why or why not?
Survey of Economics (MindTap Course List)
9th Edition
ISBN:9781305260948
Author:Irvin B. Tucker
Publisher:Irvin B. Tucker
Chapter10: Labor Market And Income Distribution
Section10.8: Discrimination
Problem 1YTE
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