3. Discuss the impact of increased minimum wage on prices of the products produced by the workers working at, or near minimum wage, and the overall impact on consumer purchasing. 4. What will be the impact on government spending on entitlement spending such as welfare, food stamps, and unemployment compensation in light of the fact that changes in the minimum wage can create changes in unemployment and underemployment? In 200 words, explain your answer. 5. Explain how the change in minimum wage will affect America's competitiveness in the Global economy.