The idea of raising the minimum wage

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1. Bernie Sanders has pushed the idea of raising the minimum wage to $15 per hour. How would the authors of your economics reading address this proposal?

2. Why do workers in the United States tend to make a higher wage than workers in other countries?

3. The authors state that it “is in the interest of each producer to keep cost down and quality up.” Explain, in your own words, what you think the authors mean by this statement.

4. The authors state that we all benefit by the fact that there are very wealthy people in the United States. How do you and I benefit from the fact that Bill Gates is worth greater than $70B?

Reference no: EM131242477

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