Economics Discussion 6
“The Labor Market and Minimum Wage and GDP and GNP”
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Review the e-Activities, examine two (2) arguments one for and one against raising the minimum wage, and discuss your findings.
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e-Activities:
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Go to a website on the Internet and find an article about the pros and cons of raising the minimum wage such as: http://www.salary.com/increasing-the-minimum-wage-pros-cons/. Be prepared to support your position on the minimum wage debate.
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Go to the Bureau of Economic Analysis at www.bea.gov. Navigate on the home page to where it states “National,” then select “Gross Domestic Product”. Next, select “GDP and the National Income and Product Account (NIPA) Historical Tables”. The exact address is http://bea.gov/national/index.htm#gdp.
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In view of the weak economy of the last several years, explain which of the four components of GDP had, or is having, the greatest positive impact in our economy. Use your results from the second e-Activity to support your response.
***************This is a discussion, NOT a paper********************
