Microeconomics week 2 disc. | Accounting homework help

Note: The video has Closed Captioning. To activate it, start the video, mouse over the bottom of the video and click on the CC icon, then select from the menu.

Note: The video has Closed Captioning. To activate it, start the video, mouse over the bottom of the video and click on the CC icon, then select from the menu.

This week we are going to examine what happens in a market when the government intervenes in the market and introduces price controls. In particular we are going to examine what happens when the minimum wage is increased.

A minimum wage is a Price Floor. When a price floor is imposed on a market the price can be higher than the price floor, but not lower than the price floor.

In the labor market, the price is the wage rate. Thus, a minimum wage above the equilibrium wage increases workers wages, but it also decreases the quantity demanded of labor. In particular, it reduces the quantity demanded of unskilled and low skilled labor, especially youth labor.

Assignment Summary:

1) View the two videos above and videos 1, 2 and 7 under the YouTube Videos link for the week. You may also wish to view the other videos for a deeper understanding of price controls.

2) Read Chapter 6 in your textbook in careful detail. Pay close attention to the graphs in Figures 1 – 5. Focus on Figure 5 in particular. (The chapter and the figures are the same in both the 6th and the 7th editions of text book).  You may also wish to review the CBO Report on employment and income impacts of an increased minimum wage.

3) Based on the videos, the readings and any additional research you decide to do (remember to cite and reference all your sources) what you do think will be the market impact(s) of the proposed increase in the federal minimum wage to $10 per hour?

a) Will the proposed increase help workers? And if so which part(s) of the labor market will be helped.

b) Which part(s) of the labor market will hurt by the proposed increase? How will they be hurt?

c) What will happen to the prices of goods and services produced with minimum wage labor?

4) What is your conclusion? Is this proposal a good idea or not? Explain why.

5) Post your views to the discussion board and refer to at least two different concepts from this week’s Chapters. Your illustration of concepts MUST include an explanation why you think they are relevant to the week’s topic using specific information from the articles, videos and other research that you have done.

MAKE SURE THAT YOU ADD SOMETHING NEW to the discussion.

6) Post on three different days for a minimum of three posts. Failure to meet these minimum posting requirements results in point loss.

 

  • Include a word count on each post. All of your posts should sum to a minimum of 500 words.
  • Each post submitted should be between 150 and 250 words. Keep them short, specific, and clear.
  • Use paragraphs as appropriate.
  • Very lengthy posts do not provide an incentive to be read.
  • Remember to document all use of sources by using citations and references. These should be in APA format.
  • Please review Plagiarism Powerpoints PLAGIARISM.ppt,and be sure to provide references and citations, including clickable URLs where appropriate, to all works that you cite APA.pptx.

Now click on the Discussion Forum text at the top of the page to be taken to the discussion board. You can start a new thread by clicking on the Create Thread button at the top.  You can also respond to an existing post by clicking the Respond button at the bottom of the post.

 

peer responses

 

Stephanie Grullon Gonzalez







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10