Explain why changes in minimum wage can affect higher-paid employees as well.
Explain why changes in minimum wage can affect higher-paid employees as well.
Explain why Keynesians argue that a higher minimum wage will not cause unemployment and will likely lead to a reduction in unemployment.
A marketing organization claims that less than 15% of its employees are paid minimum wage. If a hypothesis test is performed that fails to reject the null hypothesis, how would this decision be interpreted? There is sufficient evidence to support the claim that less than 15% of the employees are paid minimum wage There is not sufficient evidence to support the claim that more than 15% of the employees are paid minimum wage There is sufficient evidence to support the...
Do you favor raising the federal minimum wage to $10.00 per hour? Explain why or why not. What are the factors you would consider in making this decision? Why do 29 states elect to increase their minimum wage higher than the federal minimum wage?
Why is the minimum wage at other states higher British Columbia in Canada?
What do you think the likely outcome will be with a higher minimum wage? Why do people work for minimum wage?
do you think that minimum wage laws affect overall poverty? Explain.
How does factoring in minimum wage costs get added when wages have not necessarily been paid out yet at the new higher rate? For instance, if minimum wage is set to go up in the next few months and companies know of this increase in labor cost, when do they start raising prices or determining the best way to offset these added costs? My assumption would be to raise product costs and cut employees beforehand, yet it seems many businesses...
The national minimum wage is $7.25 per hour for most occupations in the private sector. Over the past several years, support for an increase in the minimum wage has come from a wide variety of sources. Many of those who support an increase in the minimum wage believe this is one way the government should exercise its social responsibility in an attempt to reduce poverty. The following items address the idea of raising the minimum wage from the current federal...
“Where most economists agree is that the higher minimum wage does not do much to relieve poverty.” The Economist This agreement among economists is best supported by the fact that: Unemployment rates for teenage women are lower than those for teenage men. Minimum wage increases are usually matched by increases in the EITC (Earned Income Tax Credit). Minimum wages do not affect labor markets when the economy is growing. Minimum wage laws by their design cannot distinguish between rich and...
1. Explain what wage indexation means? 2. Explain why firms, but not employees would prefer not to have a wage indexation clause in their employment contracts when they expect inflation?