Read “The effects of the Miinimium Wage” from The Economics of Public Issues 20th edition by Miller, Benjamin and North. (Link: Minimum_Wage.pdf ) Then answer the essay questions. It’s a writing assignment so writing counts. Your answers should be complete, not just one or two sentences.
Essay Question 1: In your own words, summarize the most important points of this chapter in a paragraph.
What insight does the chapter give that you think most people wouldn’t know?
Essay Question 2: Critique this statement in detail: “If there was no minimum wage, some people would have to work for 25 cents an hour!”
Essay Question 3: Some people are concerned about robots and artificial intelligence replacing human labor. How would a series of increases in the minimum wage affect the adaptation of new labor-saving technology over time? Discuss in detail.