North Carolina is the stateMinimum wage is rising in some states and some cities. Should it be rising? Minimum wage is a type of price floor in the United States. Some jobs pay more than the minimum wage and others pay only minimum wage. Different states and cities have different minimum wage rates. Raising the minimum wage has recently been a hot topic in larger cities.
Go to the United States Department of Labor (Links to an external site.) website and look up the minimum wage rate in your state.
List the state you live in as your subject in your threaded discussion post.
Answer the following questions your post:
Paragraph 1 – Discuss the minimum wage rate in your state. Does your state have a minimum wage rate that is higher than the Federal rate? Why or why not do you think this is the case?
Paragraph 2 – Imagine that minimum wage goes up to $20/hour in your town. How will this impact the people (suppliers of labor) and businesses in town (demanders of labor)?
Use at least two of the following terms in your answer:
Shift in supply
Price floor
Equilibrium
Shift in demand