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Graphically show the effects of an effective minimum wage on the number of unemployed in the market for unskilled labor. The minimum wage causes (A

Graphically show the effects of an effective minimum wage on the number of unemployed in the market for unskilled labor.

The minimum wage causes (A SURPLUS/NO CHANGE/ A SHORTAGE) in the markst. This means that with a minimum wage unemployment (RISES/FALLS/STAYS THE SAME). Without the minimum wage, workers are earning (P1/P2/Pe). Without the minimum wage, workers would have earned (P2/P1/Pe).

 

Wage (per hour) P Pe P2 Unskilled Labor Market Quantity of workers S D

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