Assume that the supply of low-skilled workers is fairly elastic, but the employers' demand for such workers is fairly inelastic. If the policy goal is to expand employment for low-skilled workers, is it better to focus on policy tools to shift the supply of unskilled labor or on tools to shift the demand for unskilled labor? What if the policy goal is to raise wages for this group?
Explain your answers in approximately 1,000 words with supply and demand diagrams.
Note:This assignment must adhere to the following:
• Include a cover sheet that contains your course name, your first and last name and student number.
• Clearly indicate question number and part thereof for each of your answers.
• Begin a new part on a new page.
• Submit as a Word document only; we will use track changes to provide feedback and grade your submission.Do not submit a PDF.
• When inserting diagrams such as a graph, the following are acceptable:
• Neatly hand-drawn diagrams inserted into the document as a picture
• Diagrams copied from a textbook or other source as long as the source is correctly attributed
• Screen captures as long as the source is correctly attributed
• Diagrams drawn using a drawing package that produces images acceptable to Word
• References use APA style as per text guide. If you use hyperlinks for referencing information, please include the hyperlink and name of site in your reference list.
• In text referencing, reference list, appendices and calculations not included in word count.