Asked by
Daniel Corona
on Nov 16, 2024
Verified
Refer to Figure 19-1. What is the change in employment of having the minimum wage at $9 instead of $7?
A) One million jobs are gained.
B) No jobs are gained or lost.
C) Two million jobs are lost.
D) Three million jobs are lost.
Minimum Wage
The lowest legal salary that employers can pay their workers; the rate is set by law or agreement in order to protect workers from exploitation.
- Understand the effects of minimum wage laws on employment and labor supply.
Verified Answer
AE
Learning Objectives
- Understand the effects of minimum wage laws on employment and labor supply.