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Please read the following article: https://www.usatoday.com/story/money/2020/06/30/minimum-wage-2020-hikes-3-states-21-localities-help-struggling-workers/3281976001/ (Links to an external site.) the answer the questions.
1) How does the minimum wage increase in California to $15.00 by 2022 affect laborers and businesses amid the COVID-19 pandemic?
2) Is there a better way to compromise on a minimum wage? What should the wage be today?
3) What do you consider a ‘livable wage’ today in a spiraling economy, and how would you calculate that wage?
4) What is the opportunity costs of keeping wages at the same level as the federal government ($7.25 per hour)?
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