Policy position by utilizing the examples, Macroeconomics

Assignment Help:

While referring to the "EYE on YOUR LIFE" section on page 183 of the textbook, apply this concept to your life. Develop your own policy position on price floors and price ceilings. Discuss your policy position by utilizing the examples included in this section.

1. Price Ceilings: Establish and discuss your position on price ceilings as to whether you believe we should continue to have a zero price for using a freeway. Or should we have transponders mounted on the dashboards of vehicles, as practiced in Singapore, which clocks-up the costs for driving around the city. This technique may be a non-starter for you, although, could you imagine the result of such a technique? You may never be stuck in slow-moving traffic again.

2. Price Floors: Establish and discuss your position on price floors as to whether you believe we should continue to have Government regulated minimum wage law. Discuss how you may have encountered a price floor in the labor market when you wanted a job, for which you were willing and available to work, but unable to get hired. Would you have taken a job for a slightly lower wage if one had been available?


Related Discussions:- Policy position by utilizing the examples

Explain the excise terms of tax, Explain the excise terms of tax. The e...

Explain the excise terms of tax. The excise terms of tax: a. Tax incidence b. Excess burden c. Deadweight loss d. Tax revenue

What are the production elasticities of demand, The following Cobb-Douglas ...

The following Cobb-Douglas production function is used to describe the output generated by a local government maintenance agency. Q = αL β1 K β2 E β3 Where L represents numb

Differentiate between nominal rate and real interest rates, Differentiate b...

Differentiate between Nominal rate and real interest rates To distinguish the real interest rate from the "normal" interest rate, the latter is called the nominal interest rate

Describe classical model of macroeconomics, Q. Describe classical model of ...

Q. Describe classical model of macroeconomics? Though we use the term ‘the classical model' as if there were just one classical model, this isn't quite true. For all the models

International trade, what does international trade fails to its claims ?

what does international trade fails to its claims ?

Introduce about the open-economy macroeconomics shortly, Introduce about th...

Introduce about the open-economy macroeconomics shortly. The Open Economy: a. One of the major concerns introduced through open-economy macroeconomics is the exchange rat

Explain about the diminishing returns to an input, Explain about the dimini...

Explain about the diminishing returns to an input. There are diminishing returns to an input while an increase within the quantity of which input, holding the levels of each of

Show the changes in the exchange rate, Q. Show the Changes in the exchange ...

Q. Show the Changes in the exchange rate? Assume that United States is our home country and the current euro exchange rate in direct notation is SD = 1.5 (euro/USD). In indirec

Demographic features in development, DEMOGRAPHIC FEATURES IN DEVELOPMENT: ...

DEMOGRAPHIC FEATURES IN DEVELOPMENT: We have learned in the previous unit that human resources play a significant role in generating aggregate flow of goods and services. The

Explain function of AS-AD model, Q. Explain function of AS-AD model? Th...

Q. Explain function of AS-AD model? The function of AS-AD model is to extend IS-LM model so that we can analyze situations where Y > Y OPT . To achieve this, we should make P e

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd