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What else can I help you with?
What is the minimum wage in Amsterdam?
The Dutch minimum wage is one of the highest in the EU, at 1,301 Euros per month
Does congress have the power to raise minimum wage to ten dollars an hour?
Yes Congress can regulate the minimum wage. Congress also created the federal minimum wage in 1938. The current minimum wage is $7.25.
Does congress have the power to raise the minimum wage to ten dollars an hour?
No. Congress does not have the power to establish a minimum wage at all.
What is a real wage?
individual's actual purchasing power
The main determinant of real wage is?
purchasing power of maney
What Is minimum wage in Seattle?
The minmum wage in Seattle and in Washington state is currently $9.32 per hour, which is the highest in the country. There's currently a push to raise Seattle's minimum wage to $15 per hour.
Setting minimum wage is an example of enforcement of what power?
government power in an economy.
Why do economists change current dollars into constant dollars and how does that relate to the purchasing power of minimum wage over time?
Well no one cares so why do you ask I'm a married women
What's the minimum wage in Seattle?
The minmum wage in Seattle and in Washington state is currently $9.32 per hour, which is the highest in the country. There's currently a push to raise Seattle's minimum wage to $15 per hour.
What does the real wage represent?
the wage measured in dollars of constant purchasing power; the wage measured in terms of the quantity of good and services it buys.
How does minimum wage affect supply and demand?
Minimum wage affects supply and demand by influencing the labor market. When a minimum wage is set above the equilibrium wage, it can lead to a surplus of labor, as more individuals are willing to work at the higher wage, but employers may reduce hiring or lay off workers due to increased labor costs. Conversely, a higher minimum wage can increase the purchasing power of workers, potentially boosting demand for goods and services. However, if employers raise prices to cover increased labor costs, it may offset some of the demand benefits.
How do you distinguish between money wage and real wage?
Real Wage = Money Wage / Price Index Real wage measures purchasing power, that is what an hour's labor can buy.
