Analyze the labor market with a minimum wage

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President Barack Obama's quest to raise the federal minimum wage to $10.10 an hour would eliminate about 500,000 jobs by 2016 but increase pay for millions of American's and lift nearly a million out of poverty, a Congressional Budget Office report found. Analyze the labor market with a minimum wage of $10.10 per hour. Show the shift of supply and/or demand curves and explain why the curve(s) shifted.

Reference no: EM13996773

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