Answer to Question #270256 in Microeconomics for desperate

Question

. This has been caused mainly by rising prices of domestically- produced goods and services. The government is considering a change in its economic policy to deal with this problem. The proposed policy change would provide a monthly cash transfer of $500 to all individuals in employment who are making $3000 or less each month. The government estimates that 35% of the working population. The government intends to pay for this cash transfer to low-income individuals by imposing a 2% tax on all imported goods and services. does not intend to change its sales tax, which applies to all goods and services consumed, whether domestically-produced or imported. the government recognizes that many firms use both domestic goods and services as inputs into their production processes. The government is concerned that there might be an increase in unemployment due to rising prices. The central bank is considering whether it should raise or lower interest rates, which affects the cost of capital as a factor of production

Answer 1

This policy report delves into the structural reforms that APEC economies have implemented and enforced in the last 20 years to enable the full participation and inclusion of women in economies and societies. It identifies measures undertaken in five areas that are critical to support women’s economic empowerment: (1) access to education, training and skills; (2) access to credit and financial services; (3) maternity leave, return to work and access to childcare support; (4) employment restrictions and practices; and (5) freedom from violence and freedom of movement. In general, the female labour force participation (FLFP) rate in the APEC region has been on a slight declining trend since the mid-2000s, in tandem with global trends. Nevertheless, in terms of employment levels, women have been able to narrow the gap with respect to men. In 1990, only 65 women were working as employees for every 100 male employees. Now, there are 78 female employees for every 100 male employees. Furthermore, while the proportion of femaleto-male employers is still low at around 35 female employers for every 100 male employers, this is much higher than the levels in the early 1990s at around 23 female employers for every 100 male employers.1 These numbers suggest that women have been able to access better work opportunities, while the chances to advance to managerial or leadership positions have improved. The game changer over the course of women’s lives is, and has always been, equal access to education and employment, affordable childcare services, support mechanisms to counter violence, and leadership positions. The majority of APEC economies have introduced or amended laws and regulations to mandate non-discrimination in access to education, training and skills development, safeguard the rights of girls and women to inheritance and ownership of properties, ensure that women can secure a job in the same way as men, prohibit discrimination in hiring based on gender, and protect women from domestic violence and harassment, including in the workplace. However, the road to women’s economic empowerment –despite the good intentions- still face many challenges. Many laws and policies still need to be enacted, implemented and enforced in the APEC region, to increase women’s participation in the fields of Science, Technology, Engineering, and Mathematics (STEM); widen women’s access to labor and credit markets in a similar way to men; establish support mechanisms such as affordable childcare services and paid maternity, paternity and parental leaves and ensure equal pay for equal work or work of equal value to encourage women to enter and stay in the labor force; eliminate discriminatory policies and practices to facilitate women’s representation in leadership roles in both public and private sectors; and respond to socio-cultural biases and mindsets that often lead to women shouldering a disproportionate share of unpaid care and household responsibilities. The COVID-19 pandemic has added another layer of complexity, particularly in the pursuit of women’s equal access to employment and protection from violence. The economic fallout from the COVID-19 pandemic has forced the shutdown of a significant number of micro, small and medium enterprises (MSMEs), where women are more likely to be represented. MSMEs have 1 Based on data sourced from International Labor Organization (ILO) and the World Bank’s World Development Indicators (WDI). 2020 APEC Economic Policy Report: Structural Reform and Women’s Empowerment vii to deal with substantially lower demand translating into cash flow shortages and continued rental and utilities expenses amid tighter credit conditions. Women are also more likely to work in affected sectors such as travel and tourism, retail, and accommodation and food services that require face-to-face interactions where telecommuting is not an option. In addition, women are likely to outnumber men in the informal economy, where health and unemployment insurance are non-existent, making them more vulnerable to business closures. Exacerbating the risks to women’s employment is the greater share of domestic responsibilities that women often shoulder. The imposition of lockdown measures covering schools and offices could mean that employed women will also perform childcare and household tasks while working from home, affecting their productivity, while some may be forced to give up paid work altogether. The pandemic has also given rise to another effect: lockdowns have contributed to an increase in the number of cases of violence against women, which may be caused by heightened stress from confinement combined with financial strains from job and income losses. The sizeable reduction in manpower and other resources amid the spread of COVID-19 has adversely affected the provision of support services and temporary shelter to women victims, which can result in victims being confined with their abusers. More than at any other time, the current economic downturn brought about by the pandemic should spur APEC economies into action, by re-examining policy priorities and enacting appropriate policy responses. These policy initiatives may address, for example, short-term unemployment and credit issues, while laying the groundwork towards the refinement and reform of existing laws and regulations and their enforcement to make them more relevant, inclusive, effective and growth-oriented.