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Question 1:
"A higher minimum wage means some low wage workers will get fired because there will be less money available for labor costs. An international minimum wage, scaled according to the working conditions and cost of living in a particular country, would allow local workers to benefit without significant trade disruptions.” Discuss this statement and explain why the demand curve is apt to be horizontal in the unskilled labor market.
Question 2:
What are the major preconditions of a perfectly competitive market? Provide examples to illustrate your points.
Suppose someone tells you that, over time, free trade is helping capitalists and harming workers. What fact would you cite to challenge this statement?
Should United States government approach favors certain kinds of immigrants. Should citizenship preference be given to the neediest applicants.
If unit labor costs in Spain and Portugal rise, but unit labor costs in Germany decline and other producer prices remain unchanged, what effect should these factors by themselves, have on export trade and why?
Draw and explain a production possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economys cow population.
Answer the Question on the basis of the following Census data. Which of the above distributions is closest to describing the United States? A, B, C, or D.
Managerial economics and should include other criteria such as social responsibility and ethics. Remember to cite your authority and be careful not to plaigerize.
Assume the equilibrium quantity is 10M of automotive wiper blades at an equilibrium price of $2 per blade. If the government imposes a limit of 8M wiper blades for the private sector in order to support an increased need for rubber in classified oper..
Currently a heating unit for a small building is very old and inefficient. The owner is contemplating on replacing it with a variable air volume system that costs $100,000 and will save 450,000 kWh each year. Base your decision on the (a) present wor..
Consider again the avocado example in the textbook, where demand and supply functions are Qd = 160 – 40p Qs = 50 + 15p Suppose a severe drought hit California, and the state government decided to subsidize farmers 40 cents for each pound of avocados ..
Jessica Alba, a famous actress, starts the baby and family products business, The Honest Company, with Christopher Gavigan. Are they likely to make economic profits initially? Can they continue to make economic profits in the long term? Why or why no..
Some city governments require that all city employees live within the city limits. What impact does this have on labor supply and the elasticity of demand for employees of a city with such a requirement?
Suppose that the Indian government reduces its deficit and returns to a balanced budget. If other thing remian the same, how will the demand or supply of loanable funds in India change.
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