What does it mean to say that a union has a utility function
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What is the exit-voice hypothesis? What is the implication of this hypothesis for the observed productivity of workers in unionized firms?
Define the union wage gain and the union wage gap. Why should we care about the magnitude of the union wage gain?
Describe how employers choose the optimal length of a strike in a model where there is asymmetric information.
Describe the wage-employment outcome in a model of monopoly unionism. Explain why (and in what sense) this wage-employment outcome is inefficient.
What does it mean to say that a union has a utility function? How exactly is this utility function derived from the preferences of the workers?
Why does the EC sometimes supply butter and cheese at a reduced price to certain targeted groups such as senior citizens?
Why might it be in the interest of creditor countries to reduce the debt burden of developing countries?
Why might nations not wish to specialize even when they have a comparative advantage in the production of some goods com-pared with other countries?
Why might the theory of rational expectations be more relevant in explaining the behavior of financial markets than the effect of monetary policy?
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