Question

In: Economics

What is your position on a $15/hour minimum wage in your area (you may need to...

What is your position on a $15/hour minimum wage in your area (you may need to look it up for your location)? In regards to the fast food industry, what would be the short-term ramifications? How about the long-term effects? Should the minimum wage be nationalized? Explain.

Solutions

Expert Solution

Fast food gets more popular day by day . In spite of the rising concerns about health in the fellowshit , this isolated industry goes higher and higher in widening every year . The enthuasim fuel which is responsile for the growth is the ravenous intimecy that consumer around the world have for fast food . There are many economic factor that have a bearing on this industry and how fast food and the economy relate . One of the vindicnting standards of fast food is that is insanely cheap .

The short-term remifications of fast food include : increased hunger , water retention , craving for high carb foods . Eating a high sugar food first commodity in the morning can make a person perceive hungrier . These types of foods lack the important macronutriens to make someone feel satisfied . Consuming lofty levels of salt is linked to fluid retention . Magnesim has proven to cause significant reducations in the severity of symtoms of water retentions . Because the fast foods are so highly procedured , they are swiftly broken down by the body and rapidly energizing the neward centres of the brain .

The long term effects includes high risk of health conditions , lowered imunity , impaired congnitive function , reduced cardiovascular function . Because processed foods are often low in vitamins , minerals , fibre and antioxidants regularly eating them can be determental to your health . A diet high in saturated fat and simple carbohydrate reduced capacity for memory and learning .

Substantial cost pass through when contextualized by the effect of minimum wage increases on resturant wage bills . Our approximates point toward sizeable cost pass through of least wage increases to consumers prices . These results donate to a assorted literature on the consumer boarder of minimum wage enlarges .


Related Solutions

Assume the federal government were to step in and increase the minimum wage to $15/hour. What...
Assume the federal government were to step in and increase the minimum wage to $15/hour. What would happen, according to a supply and demand model. Include a graph.
Question: What are the economic costs and benefits associated with increasing the minimum wage to $15/hour....
Question: What are the economic costs and benefits associated with increasing the minimum wage to $15/hour. Consider any important non-economic factors in your arguments. Draft the memo from ONLY ONE of the following perspectives: You work as an economic analyst at a conservative think tank and your manager wants you to submit a memo to him opposing the increase in the federal minimum wage. He needs it to help him prep for his participation on Fox News later that week....
What are positive and negative effects of Amazon raising its minimum wage to $15 per hour...
What are positive and negative effects of Amazon raising its minimum wage to $15 per hour on its employees, total revenue, and other companies and their employees?  
Using the diagram above, suppose the minimum wage was increased to $15 an hour. The results...
Using the diagram above, suppose the minimum wage was increased to $15 an hour. The results would be: Group of answer choices 18.3 million people would be employed 1.3 million workers would lose their jobs a shortage of 3 million workers A surplus of 1.7 million workers
"If the federal minimum wage is raised gradually to$15-per-hour by 2020, the employment rate for...
"If the federal minimum wage is raised gradually to $15-per-hour by 2020, the employment rate for low-wage U.S. workers will be substantially lower than it would under the status quo."Create a 3-4 page paper in which you indicate your agreement or disagreement with the statement above. You must support your position with reference to economics principles, the use of examples and a minimum of 4 research sources.
What is your opinion about the minimum wage rate increase to $9.45 per hour in Missouri?...
What is your opinion about the minimum wage rate increase to $9.45 per hour in Missouri? What is your opinion about the other scheduled increases in the next year? How will this affect businesses who cannot afford to pay their employees?
Should the province of Nova Scotia increase it’s minimum wage to $15 per hour? Write a...
Should the province of Nova Scotia increase it’s minimum wage to $15 per hour? Write a briefing note based on this question.
15. Suppose the wage of unskilled workers is equal to the minimum wage. If a tax...
15. Suppose the wage of unskilled workers is equal to the minimum wage. If a tax on labor is levied on _____, the presence of the minimum wage _____. a. workers; does not affect the tax burden of workers b. workers; reduces the tax burden of workers c. firms; reduces the tax burden of firms d. firms; does not affect the tax burden of firms
Is the minimum wage a living wage? Under what circumstances would a minimum wage be a...
Is the minimum wage a living wage? Under what circumstances would a minimum wage be a nonbinding price floor? Under what circumstances would a living wage be a binding price floor? Should the government enforce a minimum wage? Should the government implement a living wage?
Explain the characteristics of an "effective" minimum wage. What is the argument for the minimum wage?...
Explain the characteristics of an "effective" minimum wage. What is the argument for the minimum wage? What is the argument against the minimum wage?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT