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istory Bookmarks Window Help saplinglearning.com 10-ESPN Your Moms Favorites-Call of Duty: World War 2 Team Pro 97) Shroud Tw ge- ECON 100-Section AA, AC & AD-Macroeconomics-Fall17-ROSCELLI> Activities and Due Dates Ch. 11 EX CR 11/10/2017 11:00 PM 48.8/100 PrintCalculator Gra Question 12 of 22 Sapling Learning The table below shows of the annual salary for several workers. Worker Chuck Ade Gwen Sophie Tony Salary $33470 00 $21450.00 $65550.00 $15210.00 $421080.00 Calculate the median wage. Number Comparison of the minimum wage and the median wage can be used to estimate the extent to which unemployment results from minimum wage laws. All else equal, which scenario would result in the most unemployment? 0 A country where the minimum wage is set at 95% of the median wage. A country where the minimum wage is set at 10% of the median wage. A country where the minimum wage is set at 1% of the median wage. A country where the minimum wage is set at 60% of the median wage.Explanation / Answer
1) Calculation of Median wage :
If we place the given salaries in Increasing order or decreasing order we will get the salaries in the following order :
Sophie - $15,210
Ade - $21,450
Chuck - $33,470
Gwen - $65,550
Tony - $421,080
Median wage will be the middle of the row framed above.which is $33,470
2) Answer (C) A country where the minimum wage is set at 1% of the median wage.
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