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Minimum wage good for the us macro-economy

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Is a $15 an hour minimum wage good for the U.S. macro-economy? Explain why. Is it bad for the U.S. economy? Explain why.

Note: fifteen dollars an hour would make the minimum wage today roughly equal in buying power to the prevailing minimum wage of 1970, even though the GDP in 1970 was considerably smaller than today.

Reference no: EM131396226

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