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Some economists studying the effects of the minimum wage law have found that it tends to reduce the employment of black teenagers relative to white teenagers. Briefly explain the economics behind this
Minimum wage laws are controversial for many reasons. One is that they may not be beneficial to the workers that they are most intended to help.
In 1914, Ford Motor Company doubled its wage to $5 per day, a rate that was considerably above the average wage at that time.In terms of efficiency wages, explain why Ford would have had an incentive
Assume that the government imposes a $20 minimum wage. Find the new quantity of labor demanded and supplied.
What is an efficiency wage, and how do efficiency wages affect the labor market?
How would you expect each of the following factors to affect the natural rate of unemployment?There is an increase in the rate of technological change
Draw a graph of the aggregate labor market in equilibrium. Then consider each of the following scenarios. In each case, show the effect on the market and explain what will happen to the real wage and
Suppose that workers become concerned about the future and therefore wish to increase their hours of work relative to leisure. At the same time, there is an increase in the capital stock, making worke
When the economy is at full employment, are all workers employed? Briefly explain.
Increases in structural unemployment can result from a recession but are more commonly associated with other changes, such as the development of new products that replace old products.
Marty has been laid off from her job at an aircraft plant but expects to be recalled when the economy picks up.
What type of unemployment is the quote referring to? What may happen if workers become discouraged?
How does the natural rate of unemployment change as the demographic composition of the population changes?
What is the effect of unemployment insurance on the natural rate of unemployment?
Which has more impact: a doubling of the jobfinding rate or a halving of the job-separation rate? Does your result have any implications for government policy?
How do the income and the substitution effects determine the slope of the labor supply curve?
The quantity theory of money states that changes in the money supply have predictable effects on the price level, or, in other words, that money growth determines inflation in the long run. Under what
The Federal Reserve unexpectedly increases the rate of growth of the money supply by 1%, and this change is expected to be permanent. What nominal interest rate will banks charge on new mortgages?
With a falling price level, what happens to the actual real interest rate? Does your answer depend on what happens to the nominal interest rate? Briefly explain.
What is seignior age? In what sense is it an inflation tax? What are shoe-leather costs? What are menu costs?
What is hyperinflation How does hyperinflation occur?
Q1. It is important to use relevant, accurate, and reliable sources in a research paper. What do you need to consider when searching for useful sources? How do you know when sources are reliable?
A $2 million school-bond issue bearing interest at 15 percent payable annually and maturing in 25 year was sold at a price which a 20 percent annual rate of return to the investors. The brokerage
If the production function is Y = A K1/2L1/2 what is total factor productivity?
Graph the production function, with capital on the horizontal axis, and use your graph to explain the difference between a doubling of the labor force and a doubling of total factor productivity.