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Daily Problem·Saturday, 7 September 2024Back to today

Evaluate price floor efficiency

GCSE · Economics · OCR · 2.4 — Price

Question

"Minimum wage laws are an effective way to raise the living standards of low-paid workers without causing unemployment."

Evaluate this statement, using your knowledge of price floors and labor markets.

(6 marks)

6 marks · take your time before peeking.

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