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Based on the course material, which of the following are true regarding empirical studies based on natural experiments on minimum wages and unemployment, and their
Based on the course material, which of the following are true regarding empirical studies based on natural experiments on minimum wages and unemployment, and their impact on economic thinking? Group of answer choices These empirical studies have found that unemployment is more affected by minimum wage laws in the east coast than in the west coast of the US. Economists have come to accept that minimum wage laws don't in fact cause much unemployment. The new economic consensus is that growing market concentration in many American industries have given large firms the market power to keep wages low, below equilibrium. These studies have found little or no increase in unemployment due to increases in the minimum wage
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