Minimum wage laws for graduates students

Casual surveys of students at the starting of each semester reveal an amused although overwhelming maintain for a proposal to increase the legal minimum wages of graduates from college to $50,000 yearly. They supposed our proposal was facetious. But after covering all ideas, student support for this thought evaporated. So, how might such a minimum wage law be complicated to most new college graduates?

View Complete Question

Comments & Conversion

Expert

Verified

Suppose that the law of demand holds for new college graduates in the labor market, the quantity demanded of labor and therefore jobs would differ inversely along with the wage rate. The beginning pay for those employed would be impressive although the number employed would probably be low.

Related Questions in Microeconomics

Q : Ultimate lenders and borrowers

Financial intermediation is a process wherein financial institutions: (w) incur substantial outflows of funds. (x) facilitate financial flows by eventual lenders to eventual borrowers. (y) face rigid reserve requirement ratios. (z) experience "runs" w

Q : Define revenue deficit Revenue deficit:

Revenue deficit: Whenever revenue expenses are greater than revenue receipts, it is termed as revenue deficit.

Q : Maximize profits at fixed costs A

A monopoly along with huge fixed costs but no variable costs will maximize profits where is: (w) the price elasticity of demand is vast. (x) total costs are minimized. (y) MR = MC = 0. (z) price minus average cost is maximized

Q : Majority of surviving below the poverty

In the United States, a mainstream of those living below “the poverty line”: (1) have televisions, automobiles, main appliances, and other amenities possessed only by the wealthy [when anyone] in earlier times and nowadays, only by the wea

Q : Graphical shift of supply curve When

When market supply and demand curves for Velcro shoelaces were projected into a screen at the front of this room, a raise in the supply of Velcro shoelaces would be illustrated graphically by a shift of supply curve: (1) Towards the center of Earth. (2) To the left. (

Q : Problem on change in preferences Can

Can someone help me in finding out the right answer from the given options. Tim liked to snack on slim jims on fishing; however his friend Earl for all time brought beef jerky. Tom slowly developed a taste for jerky and at present buys it more frequently than slim jim

Q : Problem on quantity of Whopper Slushees

When Adam Smith’s invisible hand executed with no government intervention, this market would be in equilibrium and quantity of Whopper Slushees demanded the quantity supplied would be equivalent at: (i) Price P1. (ii) Quantity Q1. (iii) Price P3. (iv) Quantity Q

Q : Market interest rate at break-even

When land that rents for $100,000 yearly can be bought for $800,000 now, it will be a break-even investment when the market interest rate is: (i) 6%. (ii) 10%. (iii) 12.5%. (iv) 15%. (v) 8%. Can anybody suggest me the proper explan

Q : Externalities or public goods in purely

A purely competitive economy along with no externalities or public goods tends to be efficient since: (1) firms try to act socially responsible. (2) government planners specify the best allocation. (3) all prices approximate marginal social benefits a

Q : Gini Coefficient in Loren Curve A Gini

A Gini coefficient for this demonstrated figure can be computed as: (w) area A minus area B. (x) area A × area B. (y) area C minus [area A + area B]. (z) [area A] / [area A + area B].

Discover Q & A

Leading Solution Library

Avail More Than 1461302 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1931132
Asked

3,689

Active Tutors

1461302

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment