Macroeconomics
Income inequality is getting worse in the USA and this is a hot topic. Please research and answer the following questions in a brief memo (2-3 pages):
1. What is the current state of income inequality in the USA (please provide data such as household income growth,income for the highest earners vs. lowest earners, etc.)?
2. Some experts (and political candidates) argue an increase in the minimum wage will help address the gap in income. Assume you are advising the President and provide a brief summary of the pros/cons of increasing the minimum wage. Who benefits, who is hurt?
3. Should the government set a maximum wage? If so, what should it be?
