10/22/20141 Supply, Demand, and Government Policies Chapter 6.

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Presentation transcript:

10/22/20141 Supply, Demand, and Government Policies Chapter 6

10/22/20142 Outline  Controls of Prices  Taxes

10/22/20143 Controls of Prices  How price ceilings affect market outcomes Lines at the gas pump Lines at the gas pump Rent control in the SR and the LR Rent control in the SR and the LR  How price floors affect market outcomes Minimum wages Minimum wages Price supports Price supports  Evaluating price controls

10/22/20144 Taxes  How taxes on sellers affect market outcomes  How taxes on buyers affect market outcomes Can Congress distribute the burden of a payroll tax? Can Congress distribute the burden of a payroll tax?  Elasticity and tax incidence Who pays the luxury tax? Who pays the luxury tax?

10/22/20145

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