Obtain in the nmw equilibrium

Reference no: EM133629376

Question: Under the Schengen agreement of 1985, most residents of the European Union (EU) may travel and work in other EU countries without the requirement for visas or documentation. Germany and Poland are both members of the EU. Use an SFM migration model graph to evaluate the following statement as true or false. You may assume that there is a minimum wage in Germany but no minimum wage in Poland. "If all labor is fully employed, Polish output will be lower than would obtain in the no-minimum-wage (nmw) equilibrium, German output will be higher than would obtain in the nmw equilibrium, and total output for both countries together will be lower than would obtain in the nmw equilibrium."

Reference no: EM133629376

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