Homework 3 - for goods and issues of employment and...

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ECO201 Homework #3 Due no later than 11:59pm Tuesday October 1, 2009 Initially assume that the labor market in the US is in equilibrium at a wage of $7.35 per hour. Congress is considering new Minimum Wage legislation which will raise the minimum wage to $9.85 per hour. Your economics consulting firm has been hired by the US Chamber of Commerce (a group made up of small and large businesses across the country) to analyze the legislation and advise them on whether they should support or oppose this legislation. To that end, Prepare a short report (no more than 3 pages including any graphs), that suggest whether the Chamber should support or reject the legislation. Use supply and demand analysis to support your conclusions, including such tool as changes in consumer and producer surplus, changes in market prices
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Unformatted text preview: for goods and issues of employment and unemployment. In the best spirit of critical thinking, also outline the arguments that will be used by the other side (the no change side if you are advocating an increase in the minimum wage, or the change side if you are advocating keeping the minimum wage the same), and what strategy you would have for dealing with those arguments. As your pages are strictly limited (the Chambers executive committee has only a short time to read background), your report must be concise and to the point. They will not read more than 3 pages. Your Report is due no later than 11:59pm Thursday October 1 st 2009. You are expected to use the TURNITIN site in the homework file to submit your report....
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This note was uploaded on 03/21/2012 for the course ECO 201 taught by Professor Dunlevy during the Spring '08 term at Miami University.

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