What is a fair wage? What does fair mean? What is the lowest hourly wage for which you would be willing to work?

Read pages 313–319 in Chapter 6 about wages and the McDonald’s case study provided on pages 319–326.
Answer questions 1, 2, and 4 on pages 325 and 326.
1. Is any job (at any wage) better than no job? Does your answer change if you apply the question to a worker in a developing, rather than a developed country?
2. What is a fair wage? What does fair mean? What is the lowest hourly wage for which you would be willing to work? Think of some of the jobs you have done—would you have worked harder of your pay had been higher?
4. Where would you rather shop—Wal-Mart/Sam’s Club or Costco? If you answered “Wal-Mart” based on the price of its products, would you be willing to pay a higher price if you knew that the extra money would go directly to the firm’s employees? If you answered “Costco,” is it OK that the firm pays its employees above-market wages and passes those costs on to you, the customer, in terms of higher price?

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