Principles of Economics, 7th Edition

Published by South-Western College
ISBN 10: 128516587X
ISBN 13: 978-1-28516-587-5

Chapter 28 - Part IX - Unemployment - Questions for Review - Page 605: 4

Answer

Minimum wage laws are a better explanation for unemployment among teenagers. Minimum wage affects teenagers because of their relatively small skill set. College graduates typically earn above minimum wage.

Work Step by Step

This question asks you how minimum wage affects teenagers. This is obvious because there is always a surplus of workers for minimum wage.
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