An article in the Economist about Venezuela stated, The economy is in such an appalling state, and

Question:

An article in the Economist about Venezuela stated, “The economy is in such an appalling state, and inflation is so high, that Venezuelans greeted a rise of 60% in the minimum wage on May 1st with shrugs of ‘so what?’” What would be two reasons the people of Venezuela would shrug off a rise in the minimum wage of 60 percent?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Essentials Of Economics

ISBN: 9780134797731

6th Edition

Authors: R. Glenn Hubbard, Anthony Patrick O brien

Question Posted: