Figure 28-4
-Refer to Figure 28-4. If 2,000 workers are unemployed, then the minimum wage must be

Question

Figure 28-4 
-Refer to Figure 28-4. If 2,000 workers are unemployed, then the minimum wage must be

Quizplus · Accepted Answer

From the graph, we can see that at a minimum wage of $5, the economy is at full employment with a total of 200,000 workers employed. If 2,000 workers are unemployed, that means there are a total of 198,000 workers employed. This matches up with the graph at a minimum wage of $5, so we can conclude that the minimum wage must be $5.

Figure 28-4 -Refer to Figure 28-4. If 2,000 Workers Are Unemployed, Then