The federal minimum wage is $7.65 and has not been raised since 2009. "There should be a national minimum wage of $15 an hour indexed to inflation," Biden said during hisfirst address to a joint session of Congress on April 28, 2021. Nobody working 40 hours a week should be living below the poverty line." Since then, the political fight for a $15 minimum wagehas heated. Tell us why, as a macro student,you would support or oppose such a policy by analyzing the impact this might have on the average prices , unemployment levels and the Aggregate Expenditure (AE) for the economy.

:real or nominal income,cpi or ppi ,COLA,autonomous,mpc or multiplier,two types of unemployment,Okun's Law+ any 3 additional ones youfeel are important to this topic