Why would the minimum wage have an adverse impact

Assignment Help Microeconomics

Reference no: EM132181664

Question: 1. It has been argued that the minimum wage prevents workers from investing in on-the-job training and discourages employers from providing specific training to low-income workers. Why would the minimum wage have an adverse impact on human capital accumulation for low-income workers?

2. Jill is planning the timing of her on-the-job training investments over the life cycle. What happens to Jill's OJT investments at every age if:

a. The market-determined rental rate to an efficiency unit falls?

b. Jill's rate of discount increases?

c. The government passes legislation delaying a mandatory retirement age until age 70?

d. Technological progress implies that much of the OJT acquired at any given age becomes obsolete within the next 10 or 20 years?

Reference no: EM132181664

Questions Cloud

What happens to the signaling value of a person education : In the typical signaling model, it is assumed that the costs of acquiring an education are higher for low-ability than for high-ability workers.

Jobs have the same purchasing power : Andrew's job offer in Calgary is for $65 000. Which of the following salaries would the Toronto job have to pay so that both jobs have the same purchasing power

How do social trends and lifestyle effect businesses : How do social trends and lifestyle effect businesses? Such as the decline in interest for younger generations to marry?

Preserving indigenous cultures without supplanting : Preserving indigenous cultures without supplanting and potentially destroying their ways of life.

Why would the minimum wage have an adverse impact : It has been argued that the minimum wage prevents workers from investing in on-the-job training and discourages employers from providing specific training.

In your opinion can this conflict be prevented : How can police subculture conflict with the police officer's own values and ethics? In your opinion, can this conflict be prevented?

Short-term dilemma between inflation and unemployment : Represents the short-term dilemma between inflation and unemployment. How could the central bank move the economy from one point of this curve to another.

Unweighted average and median for the companies wages : Calculate the unweighted average and median for the following companies' wages.

How much can the available information tell us : Suppose Jane has 3 years of college, Pam has 2 years of college, and Mary has 1 year of college. Jane earns $21 per hour, Pam earns $19 per hour.

User Account

All Pages