Develop policy position on price floors

Assignment Help Microeconomics

Reference no: EM1394079

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.
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.
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?

Reference no: EM1394079

Questions Cloud

Regulating the lac operon : What would happen if the I gene was moved to a different location in the genome? What would happen if the lac promoter was moved to a different location?

Wendall company specializes in producing fashion outfits : the inventories in the warehouse and the factory were completely destroyed as was the general office nearby, Wendall company specializes in producing fashion outfits

Probability of population average : People in a large population average 60 inches tall. You take a random sample and will be given a dollar for each person in your sample who is over 65 inches tall.

Discusses explain how an emphasis on social networking : Discusses explain how an emphasis on social networking puts younger people at a face-to-face disadvantage. Is Generation Y well equipped to negotiate cross-culturally also interpret the "silent languages".

Develop policy position on price floors : 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.

Descriptive statistics and z-scores : Senator Hayes is considering a a run for the U.S. presidency, but she is only 35 years of age, which is the minimum required age. While investigating this issue, she finds the ages of past presidents when they were inaugurated

Why should a firm invest its idle cash : Why should a firm invest its idle cash? How to invest the idle cash and what's credit management? What's the optimal credit policy?

Number assemblers and production : Draw a scatter diagram. Based on the scatter diagram, does there appear to be any relationship between the number assemblers and production? Explain.

Determine the goal of creating a brand name : Brand names can be important to the success of a firm in some industries. Consider industries that demonstrate monopoly, monopolistic competition, oligopoly, and perfect competition.

User Account

All Pages