Principles of Macroeconomics 7th Edition

Published by South-Western College
ISBN 10: 1-28516-591-8
ISBN 13: 978-1-28516-591-2

Chapter 15 - Unemployment - Questions For Review - Page 317: 4

Answer

Minimum wage laws are a better explanation for unemployment among teenagers. Minimum wage affects teenagers because 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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