From an economic perspective, income changes can explain why Bostonians’ pushed for independence from England. Assume a British soldier is a perfect substitute for a local low skill worker. Draw Boston’s market for low skill workers and show how the stationing of a large number of British soldiers in Boston affects the market (4 pts).
What happens to low skill worker wages (1 pt)?
In 1773, Britain passed the Tea Act which allowed the East Indian Company (a British company) to bypass colonial merchants and sell tea directly to colonial storekeepers. Draw the market for tea in Boston and show how the market is affected by the passage of the Tea Act of 1773(4 pts).
Do tea prices increase or decrease (1pt)? Why would the Tea Act of 1773 anger some Bostonians (5 pts)? (Hints: The question is about incomes and Boston is part of the New England colonies.)
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