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Labor economics

If there was a mandate that firms had to pay all workers' health insurance, regardless of their time with the company, what would happen to general and specific training in labor markets?

Labor economics

9. Suppose the U.S. government is considering changes in economic and social policy to reduce wage inequality. Evaluate whether the following will help: (a) Decrease the benefit level to welfare recipients. (b) Increase the benefit level paid to welfare recipients. (c) Provide wage subsidies to firms that hire the less-ad

Isocost diagram for engineering report

9. The manager of a firm receives an engineering report claiming that an additional hour of capital would add twice as much output as would an additional hour of labor. According to the firm's accountants, an hour of capital costs 3 times more than an hour of labor. a. Is the firm on its expansion path? Why or why not? b. Su

Impacts of Globalization

Globalization has changed the world economy in various ways. One result of globalization is off-shoring which has had its share of economic impacts on domestic employment as well as world employment. What are other significant impacts of globalization on the U.S. economy? World economy?

Wage Inequality in the U.S

Many believe that wage inequality in the U.S. will generate shifts in labor markets such that the gap between the most highly skilled in the population and the least skilled will begin to fall in the near future. Explain the theoretical reasons for the claim.

Question from Parkin Economics

The following figure shows the demand and supply of low skilled labor. (see attached file) The marginal productivity of a high-skilled worker is $8.00 and hour greater than that of a low skilled worker. (The marginal product at each employment level is $8.00 greater than that of a low-skilled worker.) The cost of acquiri

Government Subsidies for Healthcare

Consider the following assertion: We all benefit by having physicians available in case we need them. Therefore, the government should subsidize medical education. Critique this justification of government subsidies based on an externalities argument.

Labor economics

Suppose that there are two states (A and B) in a country. Workers can freely move from one state to the other and all labor is equally skilled. a) Depict graphically the two market equilibrium, clearly labeling the wage (use WA and WB) and employment that clears each market. b) If a country-wide minimum wage (WM) is set in

Question about Princeton Economist, Alan Krueger

The following article appeared on the front page of the Wall St Journal on April 17, 1998: The public, by 79% to 17%, favors raising the minimum hourly wage by $1 to $6.15. But Princeton economist Alan Krueger, whose research helped win a rise in 1996, is "less confident" another boost so soon " will have as benign consequen

IS-LM Curve and Reaction to Fiscal Policy

Assume that the economy is at full employment and the government decides to cut taxes to give the economy an extra boost. PLEASE DO NOT SUBMIT A RESPONSE UNLESS YOU TRULY UNDERSTAND THE IS-LM MODEL. a. Show the short run effect of this tax cut using the IS-LM model (MUST draw the chart and show the IS and LM curves and MU

Efforts to Increase the Minimum Wage Are Summarized Using Guam

Currently, the island of Guam does not have a minimum wage requirement but uses the U.S. minimum wage as a reference. Provide a theoretical justification for why the imposition of a $5.15 minimum wage in Guam might have a detectable impact on overall employment on the island. Explain why the $5.15 minimum wage in New Jersey like

substitution effect

Consider a firm where production depends on two inputs: labor and capital, with prices w and r, respectively. Initially, the firm faces market prices of w=6 and r=4. these prices then shift to w=4 and r=2. a) in which direction with the substitution effect change the firm's employment and capital stock? b) in which directi

No income maintenance program

Consider a country with no income maintenance program that enacts an Earned Income Tax Credit similar to the US. a) Among all working people, will this program lead to a reduction in hours worked? prove your answer either graphically or mathematically. state all assumptions. b) What are the expected effects on labor force

Problem Set

(See attached file for full problem description) --- 1. For each year shown in the table, calculate the following: real Gross Domestic Product and per capita real GDP. (specify whether your answer is in $dollars, millions, billions, etc.) (8 Marks) year nominal GDP ($billions) price level (GDP Deflator) population (mi

Human Resource Management/ Staffing Practices & Selection Tools

Describe an organization's staffing practices and selection tools in response to two of the following trends: Ethics & Technology Evaluate the effectiveness of these staffing practices and selection tools in meeting current and future employment needs of the organization.

General Motors Court ruling in 1990

A Michigan court ruled in the 1990s that General Motors (GM) did not have the right to close a particular Michigan plant and lay people off. Do you think this ruling benefited the people of Michigan?

rate of unemployment

In August 2002, preliminary data showed that payroll employment rose 39,000, household employment rose 429,000, and the unemployment rate fell from 5.9% to 5.7%. A. Based on these data, what conclusion would you reach about the current employment situation? B. How would your answer change if you also noted that (a) the un

The Bureau of Labor Statistics reported...

The Bureau of Labor Statistics reported that in January 2000 the total labor force was 140,910,000 of a possible 208,782,000 working-age adults. The total number of unemployed was 5,689,000. From this information, calculate the following: a. Labor force participation rate b. Unemployment rate c. Employment

Budget surplus summary

How does a government budget surplus affect the economy? Is it good or bad for the economy?

Rupee and Dollar

How much is a Rupee to the US dollar? Do you know how much earnings Google reported to the (GAAP), both in rupees and in U.S DOLLARS?

Basic economic questions from schiller text the economy today 10th ed

1. Fiscal policy refers to the: A) manipulation of government spending and taxes to alter economic outcomes (i.e., stabilize domestic output, employment, and the price level). B) manipulation of government spending and taxes to achieve greater equality in the distribution of income. C) altering of the interest rate to

2. Unemployment/GDP

2a. If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the economy operating relative to its potential GDP? b. What happens to

Global Operations of a multinational

Select a U. S. company with global operations. Write a page project in which you do the following: 3-4 pages Discuss the firm's activities outside the U.S. Identify which economic concepts, such as comparative advantage, apply to your firm. Explain how these economic concepts can be used to address the firm's problems and

Microeconomics and Macroeconomics

What are the main differences between microeconomics and macroeconomics? Provide an example of a microeconomic and macroeconomic phenomenon. Would you give an example of a microeconomic decision you've made at work or home? What factors contributed to making that decision? Would you give an example of how a macroeconomic

Markets for factor inputs

1. Using your knowledge of marginal revenue product, explain the following: a. A star is paid $200,000 for appearing in a 30-second television commercial. The actor who plays his doubles partner is paid $500. b. A president of a company is paid not to stay in his job for the last two years of his contract. c. A jumbo je

Classical economists and Keynes

3. (Evolution of Fiscal Policy) What did classical economists assume about the flexibility of prices, wages, and interest rates? What did this assumption imply about the self-correcting tendencies in an economy in recession? What disagreements did Keynes have with classical economists?

Production Functions, Isoquant and Isocost Analysis,

Ongoing U.S. struggles in Iraq, political unrest in South America, and civil wars in Africa are again driving crude oil prices up. If the spreading unrest continues, it is widely believed that oil prices will continue to escalate. Adding to the uncertainty, it is predicted that natural gas prices in the United States will again

Key National Income Concepts

1. The consumption function measures the additional consumption due to increased income as a percentage of that increase in income. a. True b. False 2. At relatively high levels of disposable income: a. APC is negative and APS is positive. b. APC is low and APS is high. c. APC is high and APS is low. d. MPC