Question

New schemes announced by the budget statement include ten new hawker centers by 2027, a third desalination plant, SkillsFuture initiative to support lifelong learning for adults, and a second edition of Construction Productivity Roadmap to boost the industry’s capabilities.

Source: The Straits Times, March 13, 2015

1- Explain the supply-side effects of building ten new hawker centers and a third desalination plant. ?

2- a ) Explain the potential supply-side and demand-side effects of Skills Future initiative.?

b ) Explain the potential supply-side and demand-side effects of adopting new technologies to boost productivity in the construction industry.?

c )Draw a graph to illustrate the combined demand-side and supply-side effect of the fiscal policy measures in part (a).?

Answer 1

1) Hawker focuses and desalination gives foundation to supply of different products. New seller habitats will give working environment to food merchants, so tha they can build their production as new food merchants can enter the market. Desalination plants can lessen the expense and increment the supply of new water to be utilized in homes and enterprises.

A) SkillsFuture will build the supply of talented laborers in the economy. On the demand side, it would require enrollment of educators, mentors and foundation.

B) In the construction industry,a support in innovation can lessen the expense of building new structures. Consequently, we can anticipate an expansion in supply of new machines and structures. On the demand side, introduction of new innovation would demand high-gifted specialists, innovative work works and foundation.

C

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