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One advantage and one disadvantage of minimum wage with respect to poverty and inequality, and give...

One advantage and one disadvantage of minimum wage with respect to poverty and inequality, and give one example of each one?

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Expert Solution

ONE ADVANTAGE AND DISADVANTAGE OF MINIMUM WAGE WITH RESPECT TO POVERTY AND INEQUALITY IN THE REAL WORLD CAN BE DISCUSSED.

ONE ADVANTAGE OF MINIMUM WAGE IS THAT IT CAN ENSURE A MINIUM LIVELIHOOD FOR THOSE WHO ARE NOT MAKING IT. FOR EXAMPLE , CAPCHA TYPING JOBS OFFER AROUND $1 FOR TYPING 1000 CAPCHAS.

ONE DISADVANTAGE OF MINIMUM WAGE IS THAT, IT IS NOT SUFFICIENT TO MAINTAIN THE FAMILY EXPENSE. FOR EXAMPLE, CAPCHA TYPING JOBS ARE PROVIDING $1 FOR 1000 CAPCHAS . AN UNSKILLED POOR PERSON WILL MAKE ONLY LESS THAN $10 IN A MONTH, WHICH IS NOT SUFFICIENT TO MAINTAIN THE FAMILY.

Rahul Sunny answered 1 year ago
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