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Saul, Regarding the effects of an increase in the minimum wage on the employment prospects of low skilled workers, do you either

1) believe that raising the minimum wage for some low skilled workers will NOT price other low skilled workers out of the job altogether — in other words that there are no trade-offs, no downside, to raising the minimum wage — or,

2) believe there are trade-offs, and some low-skilled workers will be priced out of the labor market — specifically those whose skills are not sufficient to demand the higher wage, such as, for example, teens and recent high school graduates — but, also believe the resulting benefits to the now higher paid workers will outweigh the resulting losses to the now unemployed low skilled workers, and therefore justify the increase?

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