Suppose that the wage distribution for a small town is given here. Assume a minimum wage law
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Suppose that the wage distribution for a small town is given here.
Assume a minimum wage law is passed that doesn’t affect the market in highwage sector A but boosts wages to $7 per hour in sector B, the covered sector, while reducing employment to 20. Displaced workers in sector B move into the uncovered sector, C, where wages fall to $4.50 per hour as employment grows to 30. Has wage inequality risen or fallen? Explain.
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To evaluate whether wage inequality has risen or fallen we have to consider the changes in the distribution of wages across all sectors of the town as ...View the full answer
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Related Book For 
Modern Labor Economics Theory And Public Policy
ISBN: 9780132540643
11th Edition
Authors: Ronald Ehrenberg, Robert Smith
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