system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: What would the economic impact be, especially on inflation, if 100% of fast food workers' wages were suddenly raised to $15?
gpt
Probably not much. The question has been asked by a large number of people, and the general consensus has been that you'd expect the cost of a MacDonald's extra value meal go up around $0.75 if you raised the national minimum wage to $15/hour. The biggest risk is that is people making $7.25 suddenly made $15, those people might seek out higher quality food for themselves. Poverty contributes rather substantially to McDonald's bottom line, as it does to many companies (like Walmart). If people have more money, there's a risk they might not just buy more stuff, they might seek out higher quality goods and services.