Activity 4 - What Do You Know 2

Activity 4 - What Do You Know 2 - freeze the price of goods...

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Econ 2023 Activity 4 Name:____________________________ Activity 4: What Do You Know? 2 1. People often claim that raising minimum wage will automatically help those who are poor and unskilled since it is those people who typically have minimum wage jobs. Do you think this is true? What are some secondary effects of raising minimum wage? A. Answer before chapter 4: B. Answer after chapter 4: 2. Price gouging is the act of raising prices after a state of emergency has been declared. For example, after a devastating hurricane, price gouging laws require sellers to
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Unformatted text preview: freeze the price of goods such as bottled water and electric generators so that they dont rise above their pre-hurricane levels. Do you think price gouging laws are a good idea? Why or why not? A. Answer before chapter 4: B. Answer after chapter 4: 3. Evaluate the following statement: If the government wants to increase tax revenue, it should increase the tax rate. Do you think this is true or false? Explain why. A. Answer before chapter 4: B. Answer after chapter 4:...
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