2019 FALL MEGA ASSIGNMENT.
AN ANALYSIS OF SUPPLY AND DEMAND AND THE IMPACT OF GOVERNMENT INTERVENTION.
Worksheet Assignment-Cover Sheet
Class Name:…………………………Section Number…………………….
DUE DATE:————October 28, 2019
Make sure to show every details in your answers. Label your diagrams clearly (where applicable). Your work must be typed and submitted electronically (via e-campus and not to your instructor’s e-mail). Your answers must be written below each question in this worksheet. Include the worksheet and cover sheet in your uploaded final product.
Note: You will NOT receive any score/points if you fail to adhere to the above instructions.
Minimum Wage Discussion
The national minimum wage is $7.25 per hour for most occupations in the private sector. Over the past several years, support for an increase in the minimum wage has come from a wide variety of sources. Many of those who support an increase in the minimum wage believe this is one way the government should exercise its social responsibility in an attempt to reduce poverty. The following items address the idea of raising the minimum wage from the current federal minimum of $7.25 per hour.
1. Minimum wage is a price floor. In a paragraph, discuss in how an increase in minimum way will affect the quantity demanded and supplied of labor. Draw the supply and demand of labor using hypothetical numbers to illustrate your answer. Calculate the surplus resulting from the minimum wage increase (VC1, EQS2).
2. Discuss the unintended consequences of raising minimum wage, as it relates to potential changes in the incentives for low skilled workers to increase their human capital, and for employers to substitute inputs (technology and automation for labor (VC1, EQS2).
3. Discuss the impact of increased minimum wage on prices of the products produced by the workers working at or near minimum wage, and the overall impact on consumer purchasing. (VC1, EQS3)
4. What will be the impact on government spending on entitlement spending such as welfare, food stamps, and unemployment compensation in light of the fact that changes in the minimum wage can create changes in unemployment and underemployment? In 200 words, explain your answer (VC3, EQS5)
5. Explain how the change in minimum wage will affect America’s competitiveness in the Global economy. (VC3, EQS6)
Empirical & Quantitative (interpretation & analysis)
All of the answers are correct. Provides accurate identification and explanation on information presented.
Most of the answers are correct. Provides accurate identification and explanation on most of the information presented
Some of the answers are correct. Provides accurate identification and explanation on some of the information presented.
Little or none of the answers are correct. Attempts to provide identification and explanation on information presented.
Writing & Communication
Writing is well organized, ideas are clearly expressed, and is coherent and effective in fully addressing the question posed.
Writing is well organized, ideas are clearly expressed, and is coherent and effective in mostly addressing the question posed.
Witting is organized, ideas are fairly expressed, and are partially effective in addressing the questions posed.
Writing is poorly organized, ideas are incoherent and ineffective in addressing the question posed.
Student’s position, (perspective &)
Conclusions and related outcomes
Specific position or perspective takes into account the complexities of the issue. Recognizes the limits of position, and acknowledges others point of view.
Conclusion and related outcomes are logical and demonstrate informed evaluation with supporting evidence clearly stated.
Specific position or perspective takes into account the complexities of the issue while acknowledging opposing points of view.
Conclusion is logically tied to information and related outcomes, including opposing viewpoints clearly stated.
Specific position or perspective acknowledges different sides of the issue.
Conclusion is logically tied to information presented with some outcomes clearly stated.
Specific position or perspective is taken, but is rather obvious, with no further analysis or discussion undertaken.
Conclusion is inconsistent with information presented and is not clearly stated.
Takes an informed responsible action, to address an economic, environmental or social challenges of a national problem, evaluates individual, collective and governmental action to solve the problem.
Analyzes the economic, environmental and social challenges of a national problem, identifying a range of actions from a personal, collective and governmental actions to address the problem.
Explains the economic, environmental and social consequences of a national problem
Identifies some of the basic dimensions of a national problem.
We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.
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
The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.Read more
The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.Read more
The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.Read more
By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.Read more