Increasing to a $15 minimum wage in Ontario Canada Recall from class and our discussion of supply and demand (see the no

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Increasing to a $15 minimum wage in Ontario Canada Recall fromclass and our discussion of supply and demand (see the notes onSchoology), that the supply and demand of labor should be kept inbalance for a healthy economy: the demand for labor coming fromcompanies and the supply coming from the employable people seekingwork in society. Recently, Ontario Premier Kathleen Wynne announcedthat her government would see to a $15 minimum wage by 2019, upfrom its current $11.40. Research this plan and write Please useSchoology for this same assignment and you will submit it there bysaving your work as a Word file and sending it in as an attachmentwhen you reply. Put your name and student number on your work.Answer the questions below by researching online: 1. List what theplan is, some details and the timeline 2. Do you agree with theplan for this wage increase? Why or why not? 3. What good thingscan we expect to come out of this? 4. What challenges for oureconomy can we expect to come out of this? 5. Explain who will getthe most and the least benefit when this plan goes into effect 6.If you could set the minimum wage, what things would you considerfor how high or low it should be? 7. a. Is this an example of pricecontrol? Is it a price ceiling or price floor? b. What doesclassical economics suggest will happen based on you answer in(a)?
YourWork should be at least 2 to 3 pages double spaced, font 12,and all sources of your material you used for information must beprovided at the end
any information you take off the internet or from books, youmust provide the source!