Question

Discuss the pros and cons of raising the Minimum Wage to double digits. You must conclude with which side you are on and defend your choice.

at least one paragraph with 4 to 6 sentences.

Required Content

1. Are there at least 3 pro and 3 con arguments
2. Does the student take a side
3. Does the student rationally explain their decision

Answer 1

The 3 big pros of raising minimum wages to double digits are:

1. To boost national income
2. To help combat recession
3. To spur consumption, aggregate demand amd real GDP.

Similarly, the 3 cons are:

1. Increased inflation
2. Lower operating cash flows for companies
3. Higher unemployment due to rise in wages.

Based on above analysis, the pros outweigh the cons and hence its recommended to raise minimum wages to double digits to spur consumption, and beat inflation and at same time boost standard of living.

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