Determine what percentage of retail jobs would be lost

Assignment Help Econometrics

Reference no: EM13209907

Obama Wants $9.50 Minimum Wage (Crains)-When Barack Obama and his fellow Democrats take power in Washington, DC, restaurant operators are expecting them to push a minimum wage hike.
Obama wants to boost the federal minimum wage to $9.50 an hour by 2011, up from $7.25 an hour in 2009.
Minimum Wage
The National Restaurant Association opposes raising the minimum wage, which has gone to $6.55 this year from $5.15 in 2006, and is scheduled to rise to $7.25 in July.
The association in June conducted a survey of 1,300 members in 18 states that found that 58 percent raised menu prices and 41 percent reduced employee hours because of the higher minimum wages.
Joe Sabia, an assistant professor of public policy at American University in Washington, D.C., says that a 10 percent increase in minimum wage reduces retail employment by 1 percent and reduces employment among young workers by 3.4 percent.
"Obama's proposal would raise the federal minimum wage by over 30 percent, causing even greater job loss at a time when our economy can least afford it," Mr. Sabia contends. -David Sterrett

Question: According to the News on page 677, what percentage of retail jobs would be lost if the minimum wage were increased to $9.50?

Reference no: EM13209907

Questions Cloud

Write a set of rules combining the secrecy controls : Write a set of rules combining the secrecy controls of the Bell-La Padula model with the integrity controls of the Biba model.

Create a brief scenario for the use of cvp analysis : As a startup entrepreneur, examine how CVP analysis can be used to create a profitable business and assist in determining sales price. Create a brief scenario for the use of CVP analysis in establishing the price of a product.

Explain how many moles of hci do need to neutralize : Tums is an example of an antacid that contains calcium carbonate , caco3. consider the reaction between this basic material and HCI. how many moles of HCI do you need to neutralize

Discuss issue of the continuing relevance of the crusades : Explore the relationships between weather patterns, technological innovation, agriculture, and society within Europe and explore and discuss the issue of the continuing relevance of the Crusades.

Determine what percentage of retail jobs would be lost : Joe Sabia, an assistant professor of public policy at American University in Washington, D.C., says that a 10 percent increase in minimum wage reduces retail employment by 1 percent and reduces employment among young workers by 3.4 percent.

Write a program that prompts the user to input a number : Write a program that prompts the user to input a number. the program should then output the number and a message saying whether the number is positive, negative, or zero

Compute the value of horxn : calculate the value of ?Horxn for the following chemical equation: N2H4(l) + O2(g) ? N2(g) + 2 H2O(g)

Write a program in python shell : Write a program in python shell. Convert inches into yards, feet, and inches. This time, use a variable to store the number of inches. You may use more than one variable.

Design a ram chip : Design a RAM chip that is 128K x 8. For each sub-part below, show the array of RAM cells and its dimensions, the decoder(s) required to access the array, and tabulate the numbers of gates required to implement the decoding.

User Account

All Pages