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Economics 2.09 Honors Making Better Choices
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Assignment for economics honors assignment 2.09 H
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1.Establish basic information:A.Identify the local issue you chose.
Low minimum wage
B.Identify a potential legal solution for the issue. It may be a new law you already identified in the prior assignment, a change to an existing regulation, or a new idea.
Universal basic income
2.Apply predictive thinking. Respond to each of the following questions in at least one complete paragraph:
A.What group of people would be most affected by this legal solution? For example, this might be business owners, people in a certain occupation, age group, neighborhood, etc.
Both business owners and people who work minimum wage or have a low income would be most affected. Business owners won’t have to spend more on paying their employees because the government will provide a universal basic income. Low-income people will be affected because they will be able to pay for necessities more comfortably. B.Why might this group of people resist complying with the new law or regulation? Consider the financial costs or other short- and long-term costs
this group may bear.
People might resist complying with this new law because they will have to pay increased taxes because their income is higher.
C.How might local government address these reasons for resistance in a positive way, to incentivize compliance? For example, perhaps there could
be some sort of compensation for any financial costs incurred.
To incentivize compliance, the government might make it so people don’t have to pay taxes on universal basic income.
D.What consequence for violations would be necessary to incentivize this group to comply with the regulation? For example, a fine would have to be
high enough to deter violators but not so high that the legal system would refuse to enforce it.
Business owners can’t pay their employees less than they already were because they’re getting universal basic income. If they do this they might lose their business.
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