Which of the following will most likely occur with a 20 percent increase in the minimum wage?

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a. higher unemployment rates for experienced and skilled workers

b. higher unemployment rates for young and low-skilled workers

c. lower unemployment rates for young and low-skilled workers

d. the price floor (minimum wage) will be binding in the young and low-skilled labor market but not in the experienced and skilled labor market

e. both (b) and (d)

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Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

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Question Posted: May 19, 2024 03:01 AM

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Which of the following will most likely occur with a 20 percent increase in the minimum wage?

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Exploring Microeconomics

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