Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market.
-Minimum wage adversely affects unskilled workers who do not have work, aged 16 to 19.

Question

​Figure 5.3. The figure shows the wage rate and the quantity of labor supplied in an unskilled labor market. 
-Minimum wage adversely affects unskilled workers who do not have work, aged 16 to 19.

Quizplus · Accepted Answer

As shown in Figure 5.3, the minimum wage can cause a decrease in the demand for unskilled labor, leading to higher unemployment rates for those aged 16 to 19 who are seeking work. Therefore, the minimum wage can have an adverse effect on unskilled workers who do not have work.

​Figure 53

Figure 53