Sample Economics Essays On Critical Analysis

Homework Question on Critical Analysis

  1. The second assignment should be presented as a Journal opinion article. The article should be timely and address an economic issue of current interest to Wall Street Journal readers. Read several articles in the Op Ed section of the Wall Street Journal for reference.
  2. Formal footnotes are not required but the article should clearly refer to other contributions in the Journal or elsewhere.
  • Minimum length is 400 words or approximately two pages and maximum length 600 words or approximately three pages.
  • Footnotes, titles and other extraneous material are not counted when determining the length of the paper.
  • This paper is worth 100 points. Each paper should be submitted as a Word file.
  • Do not submit in odt or other formats because the papers are checked by and this program will not read these formats.
  • Use 12 pt. Arial font in Normal style with 1.25 inch right and left margins and 1 inch top and bottom margins.
  • Double space the paper and left justify.

Homework Answer on Critical Analysis

As Minimum Wages Rise, Smaller Firms Get Squeezed

The small firms rarely feel the impact of state influence on the local trade. The minimum wage, which is normally set by the federal or the state government, determines how much the lowest person in employment rank should be paid. However, despite the efforts by both state and federal government to raise the standards of living of the American people, there is a negative impact being experienced by small firms.

The article paints a clear scenario of the true impact of raising minimum wage, expressing a great debate on the best way to strengthen the economy after a great recession experienced in the past. There is a split among the small firms on whether to support the new move by the state government to increase the minimum wage.As a result of current adjustments in the minimum wages, which has seen many state increase the minimum wage beyond the level set by federal government, staffing cost has increased significantly.

Homework Help

The owner of small firms, such as Hannah Joseph (in the article), feel discouraged by the new move of increasing minimum wages (Josephs& Janofsky, 2015). The state intended to raise wages for the bottom fifth percentile employees in both small and big businesses. Twenty-five states have already raised their minimum wage above the level established by the federal government ($7.25). On the other hand, Los Angeles voted for the idea of raising the minimum wage from $9 to $15 by 2020 (Josephs & Janofsky, 2015). Other states have considered the idea of raising the minimum wage yearly as a result of raising the cost of living.