Overnments Involvement in Price Setting
The purpose of this project is to see how well you are able to integrate what you are learning and what you have learned in your chapter reading and discussions. Chapter 5 explains how the government intervenes in price setting such as price ceilings (eg. rent control) and price floors (eg. minimum wage). Determine whether the government should be involved in price setting and support your position utilizing examples found in your research. It is very import to Find an economist who supports your position and explain why he or she takes this position and mention who this economist is in the research paper. What are some long term dis/advantages and/or implications in such government intervention? You may also choose to offer support for each side or hold a strong position one way or the other.