Raising Minimum Wage: Yes or No? What is your position on raising the Federal minimum wage? 1. Please take your position

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Raising Minimum Wage Yes Or No What Is Your Position On Raising The Federal Minimum Wage 1 Please Take Your Position 1 (45.18 KiB) Viewed 26 times

Raising Minimum Wage Yes Or No What Is Your Position On Raising The Federal Minimum Wage 1 Please Take Your Position 2 (50.16 KiB) Viewed 26 times

Raising Minimum Wage: Yes or No? What is your position on raising the Federal minimum wage? 1. Please take your position (For or Against) and EXPLAIN your position by listing potential microeconomics impacts (pros if you are for it or cons if you are against it) 10. points 2. Please post your comments to your classmates or my postings. (noints each x 210.points) Note In order to get the full credits. you MUST discuss any or combirutions of the considerations listed below using the economisconcepts we studied Simply sayine amacainst the raise because it will cause inflation is not good enough. You must further elaborate 1. When you post your pros and cons, you can look at a view from an employer or an employee. 2. Please consider the populations who are directly affected by the minimum wage and also the population who are indirectly affected. In other words, let's say you have been working for a company for a while and your wage is $17 per an hour. You have a new hire coming in at higher minimum wage, what would be your reaction? 3. When the minimum wage goes up, that means companies will have to pay more matching social security (6.2%) and medicare (1.45%) taxes also. Please consider these additional cost to employers and how they will react initially in terms of pricing, sales, cost, and etc. If the prices of goods and services so up, will you be happy as consumers? 4. If the current minimum wage is below the market equilibrium wage, is it effective? If you are responsible for setting a new minimum wage level (Floor what wage level (Floor) do you have to set it to be effective (Above, equal, or below equilibrium wage)? Why? 5, if the new minimum wage is set above the market equilibrium wage, will that create shortage or surplus of labor? What is that mean to your jobs? In other words, what would employers do if the wage goes up and there are more labor supply than labor demand? 6. Lastly, if you are against raising it. consider if the current minimum is enough for a person to make a living, especially in bigger cities. In fact, many states/localities have higher minimum wages than the federal mandated minimum wages already for that reason
Raising Minimum Wage: Yes or No? What is your position on raising the Federal minimum wage? 1. Please take your position (For or Against) and EXPLAIN your position by listing potential microeconomics impacts (pros if you are for it or consi are against it) (10. Roints) 2. Please post your comments to your classmates' or my postines. (5.colnts.cach x 2 - 10.2010) Note: In order to get the full credits. you MUST discuss any or combinations of the considerations listed below using the economic concepts west Simply saying "I am against the raise because it will cause inflation is not good enough. You must for her elaborate 1. When you post your pros and cons, you can look at a view from an employer or an employee. 2. Please consider the populations who are directly affected by the minimum wage and also the population who are indirectly affected. In other wo let's say you have been working for a company for a while and your wage is $17 per an hour. You have a new hire coming in at higher minimum wag what would be your reaction? 3. When the minimum wage goes up, that means companies will have to pay more matching social security (6.2%) and medicare (1.45%) taxes also. consider these additional cost to employers and how they will react initially in terms of pricing, sales, cost, and etc. If the prices of goods and service up, will you be happy as consumers? 4. If the current minimum wage is below the market equilibrium wage, is it effective? If you are responsible for setting a new minimum wage level (F what wage level (Floor) do you have to set it to be effective (Above, equat, or below equilibrium wage? Why? 5. If the new minimum wage is set above the market equilibrium wage, will that create shortage or surplus of labor? What is that mean to your jobs do what would employers do if the wage goes up and there are more labor supply than labor demand? to make a living, especially in bigger cities. In fact, many