Minimum Wage Laws and Bitcoins: An Economic Analysis

The Impact of Minimum Wage Laws on Unemployment

Minimum Wage Laws May Cause Structural Unemployment.What is it that holds wages artificially high? Sometimes, the government is responsible. Take, for example, minimum wage laws. Most countries around the world have passed such laws […] The minimum wage helps poorer people who are working afford basic necessities, but it may also cause businesses to hire fewer workers. Make a graph to illustrate the market for labor supply, labor demand and the equilibrium wage. Use the graph in (A) when wage is set artificially high given minimum wage laws. Do minimum wage laws cause business to hire fewer workers? Bitcoin was invented in 2008 by a mysterious figure who called himself Satoshi Nakamoto. […]. The Economistreports that bitcoins have three properties that are desirable in a currency: They are limited in supply, easy to verify, and hard to earn. What are the three most important functions for Bitcoins to be a money? A number of economists do not see bitcoins as a money. For example, Paul Krugman summed up the consensus of these economists in the New York Times: “[Bitcoin is] a bubble wrapped in techno-mysticism inside a cocoon of libertarian ideology." Do you agree or disagree with Paul Krugman? Explain Minimum Wage Laws May Cause Structural Unemployment.What is it that holds wages artificially high? Sometimes, the government is responsible. Take, for example, minimum wage laws. Most countries around the world have passed such laws […] The minimum wage helps poorer people who are working afford basic necessities, but it may also cause businesses to hire fewer workers. Make a graph to illustrate the market for labor supply, labor demand and the equilibrium wage. Use the graph in (A) when wage is set artificially high given minimum wage laws. Do minimum wage laws cause business to hire fewer workers? Bitcoin was invented in 2008 by a mysterious figure who called himself Satoshi Nakamoto. […]. The Economistreports that bitcoins have three properties that are desirable in a currency: They are limited in supply, easy to verify, and hard to earn. What are the three most important functions for Bitcoins to be a money? A number of economists do not see bitcoins as a money. For example, Paul Krugman summed up the consensus of these economists in the New York Times: “[Bitcoin is] a bubble wrapped in techno-mysticism inside a cocoon of libertarian ideology." Do you agree or disagree with Paul Krugman? Explain