Question: Please take a look at these two small questions. Question 4 (2 points) A recent Congressional Budget Ofce report concluded that raising the federal minimum

Please take a look at these two small questions.

Question 4 (2 points) A recent Congressional Budget Ofce report concluded that raising the federal minimum wage to $15 per hour by 2025 would increase wages for at least 17 million people, but also put 1.4 million Americans out of work. The magnitudes are very different, but does your analysis of the previous question show these two types of effectshigher wages for some and loss of employment for others? Explain briey. Question 3 (2 points) J Saved Now suppose that workers successfully lobby the state legislature, and the minimum wage is raised to $11 per hour. How many associates are employed at $11 per hour? Is there any unemployment? If so, are these workers frictionally, structurally, or cyclically unemployed

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