I’m stuck on a Economics question and need an explanation.
STEP ONE (Please include citation only for this part)
Respond to the following in a 300 words
- Can government intervention in markets sometimes make the situation worse? Provide examples in your response. For example, consider the progress of the economy of Venezuela since 2000.
STEP TWO (This part should include introduction, conclusion, citations and reference page, and one graph and one table)
Government Intervention Analysis
Analyze 1 of the following government intervention programs:
- Countercyclical fiscal policies (countering economic disruptions such as the housing bubble and the Great Recession)
- US agriculture support programs
- Assistance for Low Income Families (choose 1)
- Housing vouchers
- Earned Income Tax Credit (including Child Tax Credit)
- Supplemental Nutrition Assistance Program (SNAP)
- Low income healthcare (choose 1)
- Medicaid (including Children’s Health Insurance Program).
- Affordable Care Act expansion
- Social insurance programs (choose 1)
- Old Age, Survivors, and Disability Insurance (OASDI)
- Unemployment insurance
Write a 1200-word summary of your analysis. Identify the intervention and the market failure leading up to the intervention. Complete the following in your paper:
- Analyze the arguments for government intervention as opposed to arguments for market-based solutions.Hint:See the information about market failures. (200 word count)
- Examine who has been helped and who has been hurt by the selected government intervention. (200 word count)
- Examine externalities and unintended consequences of such intervention. For example, consider whether the SNAP program and health coverage for low-income families result in higher future tax revenues because low-income children grow up healthier and produce higher incomes over their lifetimes. (200 word count)
- Analyze whether cost of the intervention you selected as a share of GDP or the number of participants is increasing,decreasing, or varies with the state of the economy, based on the cost trend(or number of participants) since its inception or since 2000. (200 word count)
- Analyze credible economists’ opinions on the success or failure of the intervention that you chose in achieving its objectives. (200 word count)
- Recommend whether the program should be continued as is, discontinued, or modified based on your conclusions. Defend your recommendation. (200 word count)
Please make sure to follow APA guidelines and include an introduction, conclusion, and reference page. Also, please include a table and a graph for your analysis.