India Steps Up Pressure for Minimum Wago for its Workers in the Gulf Oll-rich countries in the [Persian] Gulf, already confronted by strong labor protests, are facing renewed pressure from India to pay minimum wages for unskilled workers. With five million immigrant workers in the region, India is trying to win better conditions for their citizens. Source: International Herald Tribune, March 27, 2008 The graph shows the labor market in Persian Gulf countries. Draw a point to show the equilibrium wage and equilibrium quantity of labor. Label it 1. Suppose a minimum wage is set at $5 an hour. Draw the minimum wage line. Label the line. Draw a point to show the quantity employed at the minimum wage. Label the point 2. Draw an arrow that illustrates the unemployment at the minimum wage.
Wage rate (dollars per hour) S 3 2- D 30 60 90 120 150 180 210 240 Quantity (millions of hours per day) >>> Draw only the objects specified in the question.
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