a. Suppose the New York minimum wage rate had been raised to $7.25 an hour in 2007
Question:
b. How does Assembly Speaker Sheldon Silver want to change the New York minimum wage law?
c. How would Mr. Silver's proposal change the minimum wage in 2013 and 2014 and how would you expect the labor market to be influenced by the changes you've described?
d. Draw a graph of the Buffalo-Niagara region labor market in 2014 to illustrate your answer to part (c).
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a The minimum wage equals the equilibrium wage rate With this situation the equilibrium wage rate re...View the full answer
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