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Increasing to a $15 minimum wages in Ontario Canada Recently, Ontario Premier Kathleen Wynne announced that her government would see to a $15 minimum wage

Increasing to a $15 minimum wages in Ontario Canada

Recently, Ontario Premier Kathleen Wynne announced that her government would see to a $15 minimum wage by 2019, up from its current $11.40.

1.What challenges for our economy can we expect to come out of this?

2.Explain who will get the most and the least benefit when this plan goes into effect

3.If you could set the minimum wage, what things would you consider for how high or low it should be?

4.. Is this an example of price control? Is it a price ceiling or price floor?

5....What does classical economics suggest will happen based on you answer in (a)?

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