Mega Assignment

Pranil Dabadi

2019SPRINGMEGAASSIGNMENTASSESSMENT0022.docx

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THE MEGA ASSIGNMENT.

AN ANALYSIS OF SUPPLY AND DEMAND AND THE IMPACT OF GOVERNMENT INTERVENTION.

Worksheet Assignment-Cover Sheet

Student Name:………………………………………………………

Class Name:…………………………Section Number…………………....

DUE DATE: MARCH 1, 2019

Assignment Instructions.

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.

http://ecampus.support.dcccd.edu/v91/studenttutorials/StudentAssignmentv91/StudentAssignmentv91.htm

Minimum Wage Discussion (SLOs 2 & 7)

1. 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.

A. Minimum wage is a price floor, so discuss an increase in the minimum wage from a supply and demand standpoint, making sure to address the concept of surplus with respect to the quantity of labor supplied and the quantity of labor demanded that is generated by this price floor. (Draw a graph of the supply and demand for this problem. Calculate the surplus of labor if there is an increase in the minimum wage. Use the hypothetical numbers as we have discussed in class.) (QL: 2, 3, 4)

B. What will be the impact on the prices of the products produced by workers working at or near the minimum wage level, and how will this affect overall consumer purchasing? (In a paragraph or two, explain your answer based on your calculations from A.) (QL: 5)

C. Discuss any potential changes in the incentives for low-skilled workers to increase their human capital, and for employers to substitute capital inputs (technology and automation) for labor. (In a paragraph or two, explain the moral hazard involved in this issue.) (QL: 4)

D. What might be the impact on government spending on entitlements 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 a paragraph or two, explain your answer.) (QL: 4 & 5)

E. Discuss how the change in minimum wage will affect America’s competitiveness in the Global economy. (QL: 6)

Based on your responses above, do you believe that the minimum wage should be raised, lowered, remain as it currently is, or be altogether eliminated? In 250 words or more, explain your answer, and make sure to address any social responsibility the government should have regarding the well-being of its citizens with respect to the setting of wages in the private sector. Furthermore, make sure to equally address the individual’s responsibility with respect to acquiring the necessary skills to secure employment in a competitive global and domestic labor market.

2. Table 4 above is Wage and salary workers paid hourly rates with earnings at or below the prevailing federal minimum wage, by occupation for 2017. Using the attached table, answer the following questions: (QL: 1. 6)

A. Which occupation has the highest percent distribution at minimum wage?

B. What is the number of workers in this occupation?

C. What is the percent of workers paid at hourly rates at minimum wage in this occupation?

D. Which occupation has the lowest percent distribution at minimum wage?

E. What is the number of workers in this occupation?

Assignment Rubric

	4 Exceptional	3 Satisfactory	2 Developing	1 Unsatisfactory
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.
Critical thinking 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.
Social Responsibility	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.

THE MEGA ASSIGNMENT

AN ANALYSIS OF

SUPPLY AND DEMAND

AND THE IMPACT OF

GOVERNMENT

INTERVENTION

Worksheet Assignment

Cover Sheet

Student Name:………………………………………………………

lass Name:…………………………Section Number

…………………....

DUE

ATE:

MARCH

2019

Assignment

Instructions.

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

You

r 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.

http://ecampus.support.dcccd.edu/v91/studenttutorials/StudentAssi

gnmentv91/StudentAssignmentv91.htm

THE MEGA ASSIGNMENT.

AN ANALYSIS OF SUPPLY AND DEMAND AND THE IMPACT OF

GOVERNMENT INTERVENTION.

Worksheet Assignment-Cover Sheet

Student Name:………………………………………………………

Class Name:…………………………Section Number…………………....

DUE DATE: MARCH 1, 2019

Assignment Instructions.

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.

http://ecampus.support.dcccd.edu/v91/studenttutorials/StudentAssi

gnmentv91/StudentAssignmentv91.htm