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Labor Markets and Minimum Wage (Crash Course)
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Labor Markets and Minimum Wage (Crash Course)
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14 Questions

1. What is the current US minimum wage?

2. What is the argument against having a minimum wage?

3. What is the argument for having a minimum wage?

4. What does the Brookings institute believe will happen if minimum wage is raised?

5. What is it called when workers are paid wages above normal with with the goal of keeping workers and increasing productivity

6. What is it called when buyers and sellers act freely and both benefit from the exchange?

7. What has happened to labor membership in the last several decades?

8. What is it called when people are paid unfairly low because there is only one company hiring and workers are relatively immobile?

9. What is derived demand?

10. Why are engineers in high demand?

11. What do unions tend to do if they don't get what they want?

12. What is supply of labor dependent on?

13. What is it called when people are paid less because of their gender, race, etc?

14. What is the term for a group who collectively fights for the rights of workers.

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