Intermediate Microeconomics and Its Application 11th Edition by Walter Nicholson,Christopher Snyder

Exercise 1

Probably the main reason that the minimum wage is politically popular is the belief that no one should be paid less than a certain amount, no matter what work they do. Is this a general principle that should apply to all workers? Or should it only apply to certain types of workers or should certain jobs be exempt from the law? Are there good reasons for making the minimum wage universal? Or should the law be more carefully crafted to specific circumstances?