Read the following articles. and answer the 2 two...

Question

Read the following articles. and answer the 2 two questions
https://www.washingtonpost.com/business/capitalbusiness/how-would-a-proposed-minimum-wage-increase-effect-marylands-economy/2013/01/25/f26b9aba-6657-11e2-85f5-a8a9228e55e7_story.html
http://freakonomics.com/2011/11/18/does-raising-minimum-wage-increase-unemployment/

https://www.npr.org/sections/money/2014/03/06/ XXXXXXXXXX/does-raising-the-minimum-wage-kill-jobs

1) After reading these articles, explain your understanding of the relationship between minimum wage and unemployment. Make sure you explain the detailed affects of raising the minimum wage on unemployment and how it may affect the overall economy.

2) Washington State has one of the highest minimum wage level compared to other states in the nation. Given your understanding of the effects of minimum wage, would you make any changes to Washington State's minimum wage? If yes, would you make it higher or lower? Why? If not, why not? I want you to consider the overall affects of a change or no change in the minimum wage on the entire economy and not just one sector of the population (eg. you shouldn't just want higher minimum wage because you are currently making minimum wage at your job.)

Abhishek · Accepted Answer

MACRO ECONOMICS
Table of contents
1)	3
2)	3
References	4
1)
In the discussion of the relationship between minimum wages and unemployment, it can be seen that there is a direct relationship available between them. In case of the discussion of the economic development background, it can be seen that there is a different effect can be seen in the various country in an increase in the minimum wages (Halzack, 2013). Various economists explain that there is a direct relationship between minimum wages and unemployment. By explaining the supply and demand curve it can be said that if the minimum wages increase at a certain level and it cresses the equilibrium line of the curve then there can be seen an increase of the unemployment (Brunt & Barilla, 2018). In the case of the various countries, the different scenario can be seen. In the case of some country,

Read the following articles. and answer the 2 two questions...

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment