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. 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?

5. Minimum Wage Graph
• Price floor on unskilled labor market
• Subway test,
•
•
•
•
•
•
$50/hour,
$40/hour,
$20/hour,
$10/hour,
$7/hour,
$5/hour

8. 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.

9. 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