President Obama Is Hoping to Increase the Federal Minimum Wage

question 38

Essay

President Obama is hoping to increase the federal minimum wage to $10.50 per hour. Use a diagram to illustrate the effect this increase would have on unskilled labor if:
1) demand for labor is nearly vertical.
2) demand for labor is very elastic

---

Definitions:

Fluent

Describes the ability to express oneself easily and articulately, often used in the context of speaking or writing a language.

Second Language

The language learned by an individual after acquiring their first language, also known as a foreign language in non-native settings.

Age

Age refers to the length of time that an individual has lived or a thing has existed, often used as a measure of maturity, development, or life phases.

Propositional Thought

The ability to manipulate ideas and concepts in a verbal or symbolic way, often used in logical reasoning.