There are many economic issues facing the United States. There is a movement dom

Question

There are many economic issues facing the United States. There is a movement domestically to increase the minimum wage. This will involve corportate/business funding. Make a recommendation on what the government should do as a funding philosophy (as an aggregate). Present what the positive and negative implications will be to your recommendation. Think about issues of employment/unemployment/wages; the relationship of pricing of products subject to your decisions; the relationship of taxes and disposable income based on your recommendation; effects on the GDP; will this take us to inflation, or recession, or neither; which economic markets (perfect comeptition, monoplistic, monoploy, oligopoly) will thrive and which will suffer? I need some help on how to start my essay on this topic, i just need bullet points, please do not define any terms i need ideas on how to go about this essay!

Explanation / Answer

Positive:

Increase efficiency of workers

Standard of living

Negative:

Labor demand will reduce

higher cost to firms

Y = C + I + G + NX

Here, G is increasing and this will lead to higher income in the economy but this might lead to higher inflation rate.

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