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ID: 1178544 • Letter: #
Question
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Research and analyze the effects of the following government policies on the market equilibrium.
Increases in the Minimum Wage
Restrictions on International Trade
Pollution Controls
Natural Monopolies and Antitrust Regulation
When analyzing these policies, include some discussion of the following points when appropriate: size="3">
What is the purpose of the policy? size="3">
Why is the policy necessary? size="3">
The welfare of consumers, producers, and society (the winners and losers) before and after the policy size="3">
The distribution of costs and benefits size="3">
Does government intervention improve the situation? size="3">
Course Objectives Tested:
1. Explain key microeconomic terminology.
2. Differentiate between microeconomics and macroeconomics.
3. Create and use economic graphs and numerical models to analyze and solve microeconomic problems.
4. Explain the costs and benefits of international trade, including calculation of gains from trade.
5. Analyze the impact of government activity in markets.
6. Determine optimal consumer buying decisions in the context of utility theory.
7. Compare and contrast optimal pricing and output decisions in various market structures.
8. Apply supply and demand theory to both product and factor markets.
Attach a Word document of 750 minimum words with an introduction and a conclusion.
Attach a Word document of 750 minimum words with an introduction and a conclusion.
Explanation / Answer
Answer
most developing countries have minimum wage laws,in principle,guarantee low skilled workers a wage high enough to cover their basis needs.
low skilled workers means increase in unemployment such a situation may or may not arises as result of minimum wage legislation.
1) Restrictions on International Trade:
when there are no skill full workers and having no business plane automatically it will violate the international trade rules due to which it may be restricted.
2) Pollution Controls
once again the minimum wage laws are implemented here.if there are no proper resources,skills and budget pollution of the environment will increase to UN expected limit.
3) Natural Monopolies and Antitrust Regulation
Natural Monopolies is very important.when different companies come straight forward
for a same firm a competition increases due to which prices reduces, employment increases and the standards of a common person also increases.
a) purpose of the policy
purpose of this policy is to control the unemployment and poverty of the state.
b) this policy is very necessary for the standards of a common person.because if not so then poverty will increase,it will also effect the health conduction,it may became a barrier for the development of the any country.so very important policy for the development of the state.
c) this policy is no so much effective but it can just a step towards for the welfare of the society and development of the country.
d)yes the government can improve the situation by implementing such polices effectively.
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