Attached. Please let me know if you have any questions or need revisions.Q10:It’s true that increasing minimum wage has no effect on the employment rates. This is becauseincreased wage increases the disposable income among the workers, leading to more demand.Increased demand prompts more production, leading to more employment.Q9:1. Hurts the economy because policy makers cut spending or increase taxes to maintain thebalance2. A balanced budget undercuts reserves held by medicare, military and social security3. Balance budget prevents federal government from borrowingQ8:Free markets are controlled by demand and supply and therefore governments have no control.The notion of free markets does not give solution to the less profitable consumer goods, most ofwhich producers shy away from producing. For the monopoly producers, the notion of freemarkets does not set limits on the prices, leaving the control to demand.Q7:If…
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