Question

MUST BE TYPED, AND YOUR OWN WORK. THIS IS THE SECOND SUBMITTION FOR THE SAME QUESTION. Analyze the pros and cons of raising the minimum wage. What position do you support for our economy and explain your reasoning? THANK YOU

Answer 1

Pros

One of the main advantages ofincreasing the minimum wage is that the labour productivity gets to increase then earlier as more amount of wages enhances the labour to work more efficiently. This minimum wage increase can also motivate the people do it to the labor market with which the most skilled workers get in. Anotheradvantage of improving the minimum wages that the income of low which groups increase.

Cons

One of the main disadvantage of increasing the minimum wage is that increasing minimum which can cause unemployment rate to increase as the supply of labour exceeds demand and apart from that the increase in which can cause the cost to increase with which the prices of the products can also increase. position at which Indian demand of labour is equal to supply of labour at that we can be optimum and that is economy level I get to support as there is no imbalances