Min wage 2013

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Min wage 2013

  1. 1. Bellringer 1. Get out your notes on price ceilings 2. Continue them on the back and title today’s Cornell notes: Price Floors 3. List 4 jobs you could do that require skills, licenses or education 4. List 4 jobs you could do without any special skills
  2. 2. Types of labor • Skilled labor: require skills, licenses or education • Salary? Professionals, skilled immigrants, educated • Give 3 examples • Unskilled labor: lower human capital, physical, entry level • Salary? • Type of person? Students, low skilled immigrants, uneducated • Give 3 examples Who are you right now? In 10 years?
  3. 3. Minimum Wage Graph • Price floor on unskilled labor market • Subway test, • • • • • • $50/hour, $40/hour, $20/hour, $10/hour, $7/hour, $5/hour
  4. 4. Min Wage reading questions 1. Graph paragraph #2 2. How do employers react to min. wage increase? (pg 3-4) 3. How does the author think employees will to react to getting the low skilled jobs? (pg 6-7) 4. Would the author support reducing the minimum wage for people aged 15-20? 5. Using your S/D graph, describe of 3 benefits to the economy if the minimum wage was reduced for people aged 15-20.
  5. 5. Quantitative easing +10 • Find an editorial on the internet regarding a minimum wage change. • Using economic reasoning, write a paragraph support or oppose the author. • Email it to: travis.klein@tusd1.org

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