President Obama and Governor Cuomo have announced proposals that would increase the minimum wage. Republicans and small business owners oppose this idea saying that it will create fewer jobs for low skilled workers and result in higher prices for consumers, thus decreasing demand throughout the economy and further reducing jobs. Democrats believe that higher wages for workers will stimulate demand in the economy and create more jobs Do you favor or oppose the rise in the minimum wage? Answer this question both from the perspective of a worker and a consumer. You can draw a supply and demand graph of how min wage increase would affect the supply and demand for labor.

Answer rating: 100% (QA)

Raising the minimum wage is putting the cart before the horse Taxes can go only so low Cut Spending ... View the full answer