Describe what minimum wage would have done to labor market, Macroeconomics

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Describe what minimum wage would have done to labor market

Problem

Suppose the federal government implemented a $14 per hour minimum wage. Describe what this would have done to the labor market in 2018 and what it does to the labor market in 2022. Identify whether this is a price ceiling or floor and where there are binding and non-binding constraints.

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Macroeconomics: Describe what minimum wage would have done to labor market

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