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How does an increase in the minimum wage affect the economy ?

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How does an increase in the minimum wage affect the economy ? 

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It is important to note how the increasing minimum wage would lead to multiple effects on the economy such as increase in consumer spending and accelerating the business boom. With the modest increase, it would also lead to a significant improvement to the worker productivity,  and can further reduce the employee turnover and absenteeism. This would certainly give a boost to the overall economy through the increased consumer demand.

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