Since 2009, the federal minimum wage has been $7.25 per hour for most occupations in the private sector. Over the past several years, support for and opposition to an increase in the federal minimum wage has come from business executives, government officials, and social media users, among others.
1. Present and carefully explain the economic arguments against an increase in the federal minimum wage.
2. Present and carefully explain the economic arguments in favor of an increase in the federal minimum wage.
3. State and explain your position on the federal minimum wage increase.