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Understand relationship between federal and state minimums

Assignment Help Macroeconomics
Reference no: EM131298302

Knowing you are taking an Economics class, your parent or significant other asks you whether it is a good idea to raise the minimum wage; and if so to what level.

Help them understand the relationship between the Federal minimum, and State minimums and offer your suggestions about where changes should take place and why.

Help them understand some of the issues and potential effects - both short run and long run; both "good" and "bad". You might want to refer to the text as well as these articles for help.

As Paul Krugman Points Out, The Minimum Wage Can Be Set Too High

https://www.forbes.com/sites/timworstall/2015/08/03/as-paul-krugman-points-out-the-minimum-wage-can-be-set-too-high/

Unintended Consequence of Wal-Mart's Raise

https://www.bloomberg.com/news/articles/2015-08-06/an-unintended-consequence-of-wal-mart-pay-raise-unhappy-workers?cmpid=yhoo

Wendy's Serves Up Big Kiosk Expansion As Wage Hikes Hit Fast Food

https://www.investors.com/politics/policy-analysis/wendys-serves-up-kiosks-as-wages-rise-hits-fast-food-group/

Raising the Minimum Wage Is Cheap and Easy

https://www.huffingtonpost.com/dean-baker/raising-the-minimum-wage_b_1696177.html

Reference no: EM131298302

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