Figure 28-7 
-Refer to Figure 28-7.Without a minimum wage,what is the equilibrium level of employment? Explain what happens to the level of employment if the minimum wage is equal to $125.
Definitions:
Municipal Bonds
Bonds issued by local government or municipalities, typically offering tax-exempt interest payments.
Corporate Bonds
Debt securities issued by corporations to raise capital, where the issuer promises to repay the borrowings plus interest.
Callable Debenture
A type of bond that can be redeemed by the issuer before its maturity date at a predetermined price.
Puttable Mortgage Bond
A type of bond that gives the holder the option to return the bond to the issuer before its maturity date, typically in response to changes in interest rates.
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