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In labor markets, supply of labor comes from individuals and demand for labor comes from businesses. In the chapters for this lesson, there are a
In labor markets, supply of labor comes from individuals and demand for labor comes from businesses. In the chapters for this lesson, there are a number of labor market issues discussed. For this discussion board, I want you to think about and briefly address each of the following.
Recently, there have been pushes across the United States to raise the minimum wage, which has some labor market effects.
- The federal minimum wage is currently $7.25 an hour. Should we consider raising this federal minimum wage? Why?
- How does immigration affect production costs in the United States?
- What are the effects of declining union membership in the United States?
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