Evaluate the effect of a minimum wage on market

Reference no: EM133196501 , Length: 5 Pages

Assignment:

From an economic standpoint, evaluate the effect of a minimum wage on the market for low-wage labor. Include the following:

Discuss what economic theory predicts will happen

Draw a supply and demand graph illustrating the effect of a minimum wage

Discuss what elasticity conditions would economic theory prove to be true or false.

Adhere to the following standards:

Your paper should be three to five pages in length, not including the title or references pages.

Incorporate at least three scholarly references that are not required readings for this module. The CSU-Global Library is a good place to find these references.

Be sure to follow the CSU-Global Guide to Writing and APA Requirements.

Your paper should include an introduction, a body with at least two fully developed paragraphs, and a conclusion.

In a carefully written paper, complete the following:

List the four components of Gross Domestic Product(GDP) and provide an example of each.
Explain how each item affects you and the way that you live today.

Reference no: EM133196501

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