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Use the following to answer questions
Figure: Labor Market
-(Figure: Labor Market) Refer to the figure.What is the number of people who are employed at the market wage? How many people end up unemployed due to the implementation of a $10 minimum wage?
Emolument
A salary, fee, or profit from employment or office - the compensation received for work or services provided.
Indemnity
A financial compensation for loss or damage incurred, or a protection against future financial liabilities.
Reimbursement
The act of compensating someone for an expense they have incurred, often related to business costs or healthcare expenses.
Fringe Benefits
These are additional compensations provided to employees beyond their regular salaries, such as health insurance, car allowances, or retirement benefits.
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