Although there was no migration between the states after, Ask an Expert

Economics

Suppose Hamilton and Franklin are neighboring states with similar economies. Prior to Jan. 2003 they both had the same minimum wage. On Jan. 1 2003 Hamilton reduced its minimum wage by one dollar and Franklin reduced its minimum wage by 2 dollars. Although there was no migration between the states, after Jan. 2003 employment rose in Hamilton and fell in Franklin. How can this be explained?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9277831

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