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PaulKet PaulKet
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6 years ago
When the U.S. minimum wage was first passed in 1938, only 56% of workers were employed in covered firms. The incomplete coverage suggests that
A) the partial equilibrium ignores the movement of workers from uncovered sectors to covered sectors.
B) the decrease in employment is higher in general-equilibrium analysis.
C) the general-equilibrium analysis predicts the wage in uncovered sectors will fall.
D) all the workers will be worse off in both general- and partial-equilibrium analysis.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
Read 74 times
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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RumkoRumko
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6 years ago
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PaulKet Author
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6 years ago
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The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.
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