--%>
Assignment Help - homework help

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 : Types of market in economy Types of

    Types of market in economy: There are two kinds of market in this economy: Factor market-for Factors of Production and Product market-for goods and Services.

    		•
  • Q : Monopolistically competition in long

    When a monopolistically competitive firm is in long-run equilibrium, in that case this is unlikely for: (w) MR = MC. (x) P to be greater than MC. (y) P to be greater than the minimum of the long run average cost curve. (z) accounting

    		•
  • Q : Define monetary policy Define monetary

    Define monetary policy? What monetary measure can be accepted to control the condition of excess demand? It is the policy accepted by central bank exercising control over money rate of interest and credit situatio

    		•
  • Q : Income tax rates and government

    When line 0C0' in this figure shows the current Lorenz curve for the U.S. distribution of income after taxes and transfers, the probably short run outcomes of 10 percent cuts into both income tax rates and government transfer

    		•
  • Q : Reliablity with standard economic

    Which of the given behaviors is least reliable with standard economic suppositions regarding consumer behavior? (i) Gustav cannot decide which of three distinct combinations of goods he favors. (ii) Lynn hates pickled herring; however Chris is willing

    		•
  • Q : Effect of future consumption on

    When households become increasingly willing to defer current consumption in order that they can enjoy greater future consumption, in that case the: (1) interest rate rises. (2) equilibrium investment level rises. (3) present value of

    		•
  • Q : How is a shift in demand reflected in a

    How is a shift in demand reflected in a demand equation? How is a shift in supply reflected in a supply equation? How is a movement along a demand (supply) curve reflected in a demand (supply) equation?

  • Q : Externalities and Deadweight Loss

    Assume that the demand and supply for a product can be described by the following equations:Q= 1200-4PQ= -200+2P Producing the product results in marginal external damage of $8 per unit.a. What type of

    		•
  • Q : Market adjustment for new equilibrium

    This market for peanuts will adjust to a new equilibrium at price: (1) P0 and quantity Q0. (2) P1 and quantity Q0. (3) P2 and quantity Q2. (4) P3 and quantity Q1.

    		•
  • Q : Lowest possible price in transaction

    Is the assertion such that "Everyone all the time buys everything at the lowest possible price" right? Have you paid more than you had to for any good yet, after permitting for all transaction costs?

    		•