Chapter 1.1, Problem II.6E

1. What are the ethical implications of federal minimum wage? Who does it help, and who does it harm? Does raising the current level of the minimum wage increase unemployment, drive business away, or harm the very poor?

1. Before Obamacare, how were uninsured people who went to the hospital contributing to healthcare costs increasing for everyone? 2. How can forcing people to get insurance lower the cost of health care? 3. A major component of Obamacare is to raise taxes on the rich ( above an income of 200,000). What is the purpose of this?

Read the above passage. How does this relate to business, and what are some solutions to this problem? What is the purpose of this passage and how does it affect the business management right now?  Americans’ collective credit card balances totaled $986 billion at the end of last year, up $61 billion from the previous quarter, according to the Federal Reserve Bank of New York’s quarterly household debt report. Overall, U.S. household debt—including mortgage, auto, student loan, and credit card debt—grew to $16.90 trillion at the end of 2022.  That $61 billion increase in credit card debt, however, was the largest quarterly jump recorded in the history of the N.Y. Fed’s data, which dates back to 1999. Additionally, the total accumulated credit card debt surpassed the pre-pandemic record of $927 billion.  “Credit card balances grew robustly in the fourth quarter, while mortgage and auto loan balances grew at a more moderate pace, reflecting activity consistent with pre-pandemic levels,”…