Answer to Question #170796 in Other for Lewis

Question

Mrs. Chisomo from USA deemed it unnecessary to search for employment at the prevailing wage because she was benefiting more through some social security scheme. However, the US government decides to raise the minimum wage above the prevailing market wage. Due to the decision by the US government, Mrs. Chisomo therefore, decided to send job applications to various companies and she is still job hunting. On the other hand, his counterpart, Mr. Emmah was laid off due to higher costs that the company incurred as a result of the new minimum wage. As a student of principles of Economics, carefully analyze the above circumstances and appropriately identify the form of unemployment that emerged in the US economy.

Answer 1

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