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Why might raising the minimum wage reduce employment

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Reference no: EM132135769

A Wall Street Journal article noted that a study by U.S. Congressional Budget Office "estimated raising the minimum wage to $10.10 per hour reduced U.S employment by 500,000 but lift 900,000 Americans out of poverty ".

a. Why might raising the minimum wage reduce employment? Explain

b. Why would it raise some people out of poverty?

Reference no: EM132135769

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