Answer to Question #94460 in Microeconomics for MANANA

Question #94460

4. In 2002 the South African government introduced the minimum wage for domestic workers. …

Expert's answer

A minimum wage is very similar to a price floor, because it is set above the market wage. When minimum wages are imposed, unemployment increases.

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. In 2002 the South African government introduced the minimum wage for domestic workers. With effect f
2. Clearly explain the price discrimination a utility provider such as Eskom in South Africa will pract
3. Does the fact that something is abundant mean it is not scarce in the economic sense? Why or why not
4. By referring to a minimum of three factors,comprehensively discuss how firms in the service industry
5. In 2002 the South African government introduced the minimum wage for domestic workers. With effect
6. What is scarcity
7. Concerning labour market(please answer from a good market perspective, not from MRPL ), if graduates