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How does the e?ect of increasing the price of labor

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Question 1. Think about workers' productivity, will it change if they face higher wages? How about inflation? At the end, will well-being improve with higher minimum wage? Are there other aspects that can impact this effectiveness of minimum wage on workers' productivity and well-being?

Question 2. Should the minimum wage be higher than $15/hour? Or lower instead? Should the minimum wage be implemented across the nation? What about differences across States? Should richer States apply higher minimum wage? If so, would that be fair?

Question 3. According to MacEwan, how does the e?ect of increasing the price of labor di?er from the e?ect of increasing the price of cars or tomatoes?

Reference no: EM132927170

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