--%>

Minimum Wage Laws-unskilled workers

I have a problem in economics on Minimum Wage Laws-unskilled workers. Please help me in the following question. The Minimum wage legislation is unlikely to help: (i) Skilled workers who compete by unskilled workers. (ii) Unskilled workers who don’t lose their jobs. (iii) Buyers of goods which are more capital intensive associative to buyers of the labor intensive goods. (iv) Unskilled workers who drop their jobs since of the very high nominal wage. (v) Teenagers who are employed at high nominal legal wage.

What is the right answer?

   Related Questions in Microeconomics

  • Q : Psychic Income problem Assume that a

    Assume that a few years after graduating, life as an investment banker became very frustrating that you switched careers to work as the professional cat walker, and were happier even although your annual income fell much than 80 percent. Your decreased money income is

  • Q : Present value of winnings by free

    You win the Idaho state lottery as well as are entitled to two tax-free payments of $500,000 every. You get the first payment today and the next payment in precisely one year. Suppose the interest rate is a generally high 25 percent.

  • Q : Freedom of entry and exit Typical firms

    Typical firms in an industry can’t expect to produce economic profit in the long run when the industry has: (1) decreasing costs of production as the number of firms in the industry changes. (2) market demand exceeding the minimum average variab

  • Q : Affects in Great Depression State what

    State what affect the most in Great Depression?

  • Q : Featherbedding related problem Assume

    Assume that no job vacancies exist for the taxidermists, which students lack any interest in taxidermy, and that taxidermy produces no externalities. When lobbyists persuaded college Boards of Trustees to need taxidermy courses and to set up Departments of Taxidermy s

  • Q : Cross elasticity coefficient substitutes

    When Ford raises pickup truck prices 20 percent and Chevy pickup sales rise 12 percent, in that case these goods are _____ as well as their cross elasticity coefficient is approximately _____. (w) complements;  0.6. (x) substitutes; 0.6. (y) subs

  • Q : Implication of perfect knowledge

    Describe the implication of perfect knowledge regarding market beneath perfect competition.

  • Q : Bond Prices and Interest Rates When you

    When you buy a bond at an interest rate of 15 percent and sell it while the interest rate is 10 percent, then you will: (w) receive more than you paid for the bond. (x) receive less than you paid for the bond. (y) receive similar amount that you paid

  • Q : Classification of firms Can someone

    Can someone please help me in finding out the precise answer from the following question. The summation of all the firms which produce a given product is categorized as: (1) Multinational. (2) An industry. (3) Cartel. (4) Monopoly. (5) Plant.

  • Q : Market demands in short run Can someone

    Can someone please help me in finding out the accurate answer from the following question. In short run, the market demands are: (1) Stimulated if resource costs increase. (2) Simply estimated employing aggregate data. (3) Positively associated to the