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    Efforts to increase the minimum wage are summarized using Guam

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    Currently, the island of Guam does not have a minimum wage requirement but uses the U.S. minimum wage as a reference. Provide a theoretical justification for why the imposition of a $5.15 minimum wage in Guam might have a detectable impact on overall employment on the island. Explain why the $5.15 minimum wage in New Jersey likely has less of a detectable impact on employment.

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    Efforts to increase the minimum wage are generally supported by unions and liberal anti-poverty organizations, who say it will help the nation's working poor. But, Opponents include conservative organizations and the business community, especially small businesses and retailers, who argue that increasing the minimum wage will simply increase unemployment, as small businesses that pay such wages are forced to make ...

    Solution Summary

    Efforts to increase the minimum wage are summarized using Guam as an example.