MICROECONOMICS - Reasons and methods of government of Ontario intervention in the market mechanism.

Minimum wage rate and rent control in Ontario Canada are two common examples of how government (one provincial, the other typically municipal) policies have a direct economic impact. Explain the impacts of the minimum wage rate and rent control policy on consumers, producers, and society. Draw on the readings and specific examples you can find in your community to argue both for and against such policies.

Instruction: You may use the following references or others. Text citation as well)

References

Labour, Training, and Skills Development. (2022, April 05). Ontario Working for Workers by Raising the Minimum Wage. Ontario. https://news.ontario.ca/en/release/1001954/ontario-working-for-workers-by-raising-the-minimum-wage

BCcampus. (n.d.). Principle of Macroeconomics 2E. https://opentextbc.ca/macroeconomics2eopenstax/chapter/price-ceilings-and-price-floors/

Municipal Affairs and Housing. 2021, June 16). Ontario's 2022 Rent Increase Guideline.Ontario. https://news.ontario.ca/en/bulletin/1000340/ontarios-2022-rent-increase-guideline