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Scenario:

Imagine the government is concerned that the going wage rate of $6 per hour for small-skilled workers is too low in an effort to enhance the "welfare" of such workers the government offers to pay each small-skilled worker $100 with the condition that they don’t work any hours.

Required:

a) Can this plan succeed in raising the worker's welfare Demonstrate?

b) Should the plan be successful illustrate?

c) From the worker's view point, on what does the success of plan depend? Describe.

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M910572

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