What are the ethical implications of federal minimum wage? Who does it help, and who does it harm? Does raising the current level of the minimum wage increase unemployment, drive business away, or harm the very poor?

What are the ethical implications of federal minimum wage? Who does it help, and who does it harm? Does raising the current level of the minimum wage increase unemployment, drive business away, or harm the very poor?

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

1. What are the ethical implications of federal minimum wage?

Who does it help, and who does it harm?
Does raising the current level of the minimum wage increase unemployment, drive business away, or harm the very poor?

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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