What impact will the setting of minimum wage have on consumption – InterviewSolution

1.	What impact will the setting of minimum wage have on consumption
Answer» If HIGHER minimum wages leads to an INCREASE in consumer spending, it COULD CAUSE a degree of demand-pull inflation as well. In theory, a higher minimum WAGE could cause inflation for two reasons: Higher spending by workers (demand pull inflation) Higher costs for firms, leading to wage-push inflation.Follow ❤️

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