Elimination of minimum wage law coverage

Reference no: EM1373789

People of different age groups and situations take advantage of part time employment opportunities provided through the fast food industry. Given the wide variety of different fast-food vendors, the industry is fiercely competitive, as is the unskilled labor market. In each of the following circumstances, indicate whether the proposed changes in government policy are likely to have an increasing, a decreasing or an uncertain effects on employment in this industry.

A. Elimination of minimum wage law coverage for those working less than twenty hours per week
B. An increase in spending for education that raises basic worker skills.
C. An increase in the employer portion of federally-mandated FICA insurance costs.
D. A requirement that employers install expensive new worker-safety equipment
E. A state requirement that employers pay 8 percent of wages to fund a new national healthcare program.

Reference no: EM1373789

Questions Cloud

Compute equilibrium interest rate : Given that Y=900 and want consumption and investment are given through, Fill the entries as you require to answer the questions.

Describe the relationship between skill and unemployment : Use Human Capital theory and describe the relationship between skill and unemployment. Naturally, economists and the public at big usually think of skill level having having an inverse relationship with unemployment.

Major long term tax cut : The President of US is suggesting increased spending for a missile defense system and also proposing a major long term tax cut. Provide some predictions of possible outcomes for the federal budget categories,

Multiple choice questions related to microeconomics : Assume buyers in the used car market are willing to pay $3,500 for a plum used car and $1,500 for a lemon used car. If buyers believe that thirty percent of the used cars.

Elimination of minimum wage law coverage : People of different age groups and situations take advantage of part time employment opportunities provided through the fast food industry.

Compute the industry equilibrium wage : Competitive Market Equilibrium. Assume demand and supply situations in the competitive market for unskilled labor are as follows;

Analyze the effects on wages and employment : Based on economist Albert Rees, there is evidence that contracts sometimes exist "among employers not to increase wages individually or not to employee away each other's workers

Important question - economics : Assume an employer offers a base wage of twenty dollar per hour for the 1st 40-hours of a work each week and overtime pay of thirty dollar per hour for any hours beyond forty per week,

Important question about perfectly competitive firm : Could a labor union or a minimum wage law efficiently help to increase wages, rise employment, or improve working situations in a company

User Account

All Pages