Question

Debate activity sheet: the impact of policy changes whenever any policy is changed, different groups of people are affected in different ways. who is affected by changes in the federal government's minimum-wage policy, and how are they affected? review the excerpts from the two minimum-wage articles in the text and "new minimum wage makes few waves" (on the previous two pages of this booklet). then use this activity sheet to provide at least two examples of how each of the affected parties is helped as well as hurt by an increase in the minimum wage. you can use this information to back up your arguments in the debate. we've given you a start with two examples.

Answer 1

Raising the minimum wage has complex impacts, benefiting workers with higher income but potentially leading to job cuts or price increases. Employers might face higher labor costs, which could affect business operations and consumer prices. The overall policy success depends on balancing worker welfare with economic stability.

Step-by-step explanation:

The effects of raising the minimum wage are multifaceted and extend to various groups in the economy. Workers who are paid the minimum wage would benefit from an increase as they would receive higher wages, which could improve their living standards and reduce poverty. However, some of these workers may face job cuts or reduced hours as employers adjust to higher labor costs. On the other hand, employers, particularly small business owners, may struggle with the increased cost of labor, which can lead to higher prices for consumers, reduced hiring, or automation of jobs.

Raising the minimum wage may also have macroeconomic effects, such as increased consumer spending due to higher incomes for low-wage workers, but could also result in inflationary pressures. Policymakers aim to achieve a balance between improving the livelihoods of low-wage workers and maintaining economic stability and employment opportunities. It's important to understand that an increase in the minimum wage can have both positive and negative impacts, and the overall success of such a policy change depends on a myriad of factors.

Answer 2

First and foremost, the low wage workers are affected. Whether or not the effect is a good one is based largely on employers, the second group of affected people. Employers have just had a lot of expense added to their budget as a result of the raise in the minimum wage and in response, many employers let some employees go. So many workers are affected well because of the raise in wages, but many also lose their jobs as expenses for businesses increase.