Wage differentials and minimum wage

Assignment Help Macroeconomics

Reference no: EM1311277

Why did Professor Williams invest additional resources to make this class an effective one? He could have received the same pay for doing considerably less work. Why didn't you allocate the amount of resources necessary to earn an A in this class?
Give brief analysis to each of the following:

(a) Evidence of sex discrimination lies in the fact that the median annual earnings of women are only 59 percent of male earnings.

(b) Professor of Economics, Betty J. Watson, of the College of Notre Dame in Baltimore said, in reference to the minimum wage, "It's more important to focus on creating jobs. Black youth have to deal with racism, and lowering the wage isn't going to help them find jobs." ( The Cincinnati Enquirer, November 23, 1986).

(c) Evaluate: A jet plane can fly from New York to Los Angeles three hours faster than a propeller driven plane. Which is the more efficient? Why?

3 Evaluate the following: The laws of supply and demand cannot apply to the labor market because labor is not a commodity to be bought and sold like machines.

Reference no: EM1311277

Questions Cloud

Inventory control problem-or method : Solve different inventory control problems using an appropriate OR method.

Calculate pressure at the center of a pipe : Calculate the pressure at the center of pipe A. Suppose T = 10?C.

Efficient allocation of resources : Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?

Inventory control problem : Solve different inventory control problems using an appropriate OR method.

Wage differentials and minimum wage : Evaluate the following: The laws of supply and demand cannot apply to the labor market because labor is not a commodity to be bought and sold like machines.

The pressure differences : The difference in piezometric pressure, pz,A – pz,B. Express both answers in kPa and pressure differences pA - pB.

Administrator providing the course material : Suppose it costs $25 per student for the administrators to provide the course materials.

Profit maximizing level of labor : The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.

Transferable property rights on individual decision making : Explain the influence that transferable property rights versus non-transferable property rights, has on individual decision making.

User Account

All Pages