Raising Minimum Wage Activity

What will happen if policymakers increase the federal and state minimum wage? Choose three that apply.

• Reduce poverty.

• Stimulate consumer spending.

• Skyrocket prices in every area.

• Reduce reliance on social programs.

Raising the minimum wage to ____ dollars an hour will benefit millions of individuals.

If the minimum wage were to be raise to $15 an hour, how many people will leave poverty?

• 5.7 million

• 7.6 million

• 1.2 million

• 500,000

What describes a person living paycheck to paycheck? Choose two answer choices that apply.

• Higher financing costs.

• Lower poverty rates.

• Harder time finding a new job.

• Difficulty qualifying for future credit.

Fill in the blank: “Statistically, between ___ percent to ___ percent of Americans are likely living paycheck to paycheck.”

• 30, 40

• 55, 63

• 10, 15

• 5, 10

True or False: “Raising minimum wage will reduce reliance on social program.”

• True

• False

What factor does NOT increase inflation?

• Russia’s war in Ukraine.

• COVID-19 related supply distribution

• Rapid wage growth

What is the “true living wage” hourly?

• $10 to $12 per hour.

• $20 to $26 per hour.

• $12 to $15 per hour.

• $25 to $30 per hour.

What is the minimum wage, as of January 1, 2024?

• $7.25 per hour.

• $10 per hour.

• $12 per hour.

• $15 per hour.

What was the estimated welfare spending in 2023?

• $1 trillion

• $2.5 trillion

• $1.3 trillion

• $500 billion