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Economics society of australia survey of economists

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Reference no: EM133250627

In the 2011 Economics Society of Australia survey of economists, 45.1% of respondents agreed that lowering the minimum wage would reduce unemployment, while 37.6% of the respondents disagreed. How can we reconcile these conflicting views with our understanding of the effects of a price floor? Do you agree with the above statement? Support your argument with an appropriate diagram.

Reference no: EM133250627

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