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Question: The U.S. Department of Labor reports that of the roughly 145 million people employed, just over half (73.9 million) are paid hourly, but less than 3% earn the minimum wage or less; 97% of wage earners earn more. And of those earning the minimum wage or less, 25% are teenagers living at home. If so few people are affected by the minimum wage, why does it often seem to be such a contentious political issue?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92291613

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