Answer to Question #259076 in Economics of Enterprise for nicole

Question

Topic: Minimum Wage and Taxes

Directions: Make a generalization on how minimum wage and taxes can be applied on the very essence of learning Applied Economics. Answer using 3-5 sentences only.

Answer 1

The founder of the Modern financial hypothesis attests the lowest pay permitted by law at a more proportionate level can expand the business and improve development and effectiveness. However, the excessive lowest wage permitted by law increases unemployment by fixing a cost above most interest for work.

 Many countries had presented the lowest wage permitted through legislation by the 20th century because wages increased work expenses. Organizations frequently attempt to keep away from the minimum allowed by law laws by utilizing gig laborers, moving work to areas with lower or nonexistent least wages, or automization of jobs