“The Labor Market and Minimum Wage and GDP and GNP” Please respond to the following:
- Review the e-Activities, examine two (2) arguments one for and one against raising the minimum wage, and discuss your findings.
- 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.
- 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 discuss and support your position on the minimum wage debate.
- 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. Be prepared to discuss your findings.