(Answered) Demand for child care services

Economics

Using indifference curve diagrams, assess the welfare effects of a price subsidy compared with a lump-sum subsidy for childcare:

(a) Which subsidy provides a bigger benefit to the recipient?

(b) Which subsidy increases the demand for child care services more?

(d) If a parent did not receive a subsidy, would they still have a preference for the type of subsidy the government pays?

(e) Canada chose the lump-sum subsidy, but limited the amount that a family could receive. How do such limits effect the choice of subsidy?

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Macroeconomics, Economics

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