1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
murzikaleks [220]
2 years ago
10

Using your responses to the questions above as a guide, compose two well-written paragraphs that answer this question: Is a mini

mum wage a benefit for society? Justify your response.
Social Studies
2 answers:
poizon [28]2 years ago
8 0

Answer:

Minimum wage is a benefit for society.

Explanation:

Some people argue that establishing a minimum wage is an additional cost to employers because it leads to a fall in quantity demanded for labor and employers have to lay off some workers because they cannot afford to pay higher wages. As wages increase, the quantity of labor demanded couplesd with the increase in the quantity of labor supplied results in unemployment

However, I believe that establishing a minimum wage is beneficial for society. Before the government introduced a price floor, there was an equilibrium wage rate in the economy as the quantity demanded for labor was equal to quantity supplied. But the equilibrium wage rate was not high enough to satisfy the daily needs of workers. As a result, most workers earning that wage would live in poverty. With an increase in the minimum wage, workers have extra money to spend on various goods and services, which aids economic growth. Establishing a minimum wage is a benefit to society.

PLATO WORD FOR WORD

bagirrra123 [75]2 years ago
4 0

Answer:

Minimum wage is a benefit for society.

Explanation:

Minimum wage is a labor policy imposed mostly during the <em>20th century</em> as a type of securing welfare and minimising exploitation. It increases the standard of living of workers, reduces inequality and poverty and boosts morale. It gives the bargaining power to the workers and increases the efficiency of the market. Many economists argue that the minimum wage has a positive impact on small businesses.

Minimum wage also increases aggregate demand by raising the purchasing power and increasing consumption and spending which then moves the economy forward.

However, some social democracies like Sweden, did not impose the minimum wage policy on the national level, but instead, salaries and benefits are negotiated between the labor union and employer organizations. The purpose of minimum wage is still a subject of debates and research, and there is a wide ranging opinion regarding its justifiability.

You might be interested in
Approximately how old is the Moon thought to be?
svetoff [14.1K]
<span>d. 4.5 billion years

is the correct choice</span>
3 0
3 years ago
Men and women are two sides of a coin
MA_775_DIABLO [31]

Answer:yes

Explanation:

3 0
2 years ago
Read 2 more answers
The styles of suits worn by young boys in the Romantic period included the _________ suit, the __________ suit or the __________
Lelechka [254]

Answer: The styles of suits worn by young boys in the Romantic period include:

skeleton suits

tunic suits

Eton suits

5 0
2 years ago
What was the impact on America of the Louisiana Purchase
Anettt [7]
It doubled the size of us and gave them more material
3 0
2 years ago
Read 2 more answers
Lauren is participating in research involving the prisoner's dilemma, but she has been told it is called the "wall street" game.
vagabundo [1.1K]

Lauren will probably be competitive in the first round of the game, though David will probably cooperate.

The prisoner's dilemma is a conundrum in choice investigation in which two people keeping their best interests in mind seek after a game-plan that does not bring about the perfect result.

5 0
3 years ago
Other questions:
  • __________ constitute the largest non-hispanic immigrant population from the caribbean. haitians jamaicans cubans kenyans
    7·1 answer
  • Who is the oldest person elected president in the United States
    10·2 answers
  • A _____ system is a closed system of stratification in which social position is determined by the family into which a person is
    10·2 answers
  • All of the teepees in a tribe were
    5·1 answer
  • Einhorn and Finkle are in a convenience store together. For a while they talk about stealing hot dogs and deodorant, for they ar
    11·1 answer
  • Which of the following BEST describes what occurred during the Industrial Revolution that helped people migrating west open and
    10·1 answer
  • What is humanism?
    5·1 answer
  • Why is a peaceful transfer of power important?
    13·1 answer
  • Compare and contrast how people today share their thoughts and opinions about government with how the colonists did so.
    8·2 answers
  • How did the colonists react to the boston massacre
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!