The Minimum Wage DilemmaNow that you have learned about the labor market and wag

The Minimum Wage
DilemmaNow that you have learned about the labor market and wage
determination think about the implications of minimum wage laws. Then post a
response to the following: 1. Do you think the minimum wage law is an economically
efficient means of reducing household poverty? Why or why not?2. What are some other ways that might be more efficient for
this purpose? Suggest two or three viable measures.Union Actions and
the Labor MarketUnions exert a powerful influence on the labor market
affecting both demand and supply and thereby the wage rate. After reading
about the influence of labor unions post a response to the following: 1. From an economic perspective are unions efficient or
otherwise? Give reasons for your answer.2. What objectives do unions serve? Are there other more
economically efficient methods to achieve these objectives? What might those
methods be?
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