Part 1: Class, many individuals feel that they have little influence over the wage rate they receive, and that employers decide unilaterally what wage they will pay. How do you square this fact with...

Part 1: Class, many individuals feel that they have little influence over the wage rate they receive, and that employers decide unilaterally what wage they will pay. How do you square this fact with the model of wage determination presented in this unit? Part 2: Who does federal minimum wage help and who does it harm? Does raising the current level of the minimum wage increase unemployment, drive business away, or harm the very poor? Will a higher minimum wage raise the standard of living and buying power of the wage earners?