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Consider the table, which shows the annual salary for several workers. Worker Salary Chuck $34200 Ade $26580 Gwen $70000 Sophie $14390 Tony $478700 Calculate the
Consider the table, which shows the annual salary for several workers. Worker Salary Chuck $34200 Ade $26580 Gwen $70000 Sophie $14390 Tony $478700 Calculate the median wage. Comparison of the minimum wage and the median wage can be used to estimate the extent to which unemployment results from minimum wage laws. All else equal, which scenario would result in the most unemployment? A country where the minimum wage is set at 1% of the median wage A country where the minimum wage is set at 10% of the median wage A country where the minimum wage is set at 60% of the median wage. A country where the minimum wage is set at 95% of the median wage.\fThe table shows employment statistics for a fictional country answer the questions. Round your percentages to two decimal places Category Number of people Employed 5905 Unemployed 82 Not in the labor force 571 What is the total labor force? What is the labor force participation rate? What is the unemployment rate? Suppose 286 of the 482 unemployed people have been unemployed for so long that they stop looking for work What is the new labor force? What is the new labor force participation rate What is the new unemployment rate
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