User Account

All Pages

What is the current minimum wage in the u.s

Assignment Help Macroeconomics
Reference no: EM13137414

Question 1. Explain the difference between a closed shop and a union shop. Are either or both shops legal?

Question 2. Answer the following two questions about labor in the auto industry:

A. Suppose the market for autoworkers is initially in equilibrium, but then automakers purchase capital goods that are a substitute for
workers. What happens in the market for autoworkers? Explain

B. Now, suppose the automakers improve working conditions at the plants. What are the effects? Explain

Question 3. How do we determine the optimal quantity of pollution? Why would we not just want the quantity of pollution to be zero?

Question 4. What are the private costs of driving an automobile? What are the external costs?

Project and Analysis Questions

Question 5. How rich are the rich? Wealth statistics on the very rich are compiled every year by Forbes magazine. Answer the following questions:

A. Carefully define wealth, differentiating it from income. Which of these two are more unequally distributed in the US? Why?

B. Find out who are the richest in the US and world at: www.forbes.com - choose lists, then "400 Richest Americans." Select ten individuals for study at random. List and explain your 10 individuals and explain how much wealth they each own. (Make certain that your units are correct.) How did they achieve this wealth?

C. Based on your sample, explain what percentage of individuals gained this wealth through inheritance and what percentage through entrepreneurship

Question 6. For this question, you will be internet searching for some information on the labor market. Search the internet for information on current trends in the US Labor Markets and answer the following 2 questions:

A. Has overall employment been rising or falling during the most recent year? Based on what you learned in your text, what factors might account for this pattern?

B. Have US workers' wages been rising or falling during the most recent year?

Now you will be searching for some information on the minimum wage. Using the website, www.dol.gov or any other sites you wish to use, determine information about the minimum wage. Answer the following questions:

C. What is the current minimum wage in the U.S?
D. What is the minimum wage for workers who receive tips?
E. What is the current minimum wage for the state that you live in?
F. Why was the minimum wage law first enacted?
G. What are the arguments for and against raising the minimum wage?

Question 7. Examine the following marginal costs and marginal benefits associated with air cleanliness in a given locale:

Quantity of Clean Air (%)

Marginal Cost ($)

Marginal Benefit ($)

0

50,000

600,000

20

150,000

360,000

40

200,000

200,000

60

300,000

150,000

80

400,000

120,000

100

Infinite

0

A. What is the optimal degree of air cleanliness?
B. What is the optimal degree of air pollution?
C. Suppose that a state provides subsidies for a company to build plants that contribute to air pollution. Cleaning up this pollution causes the marginal cost of air cleanliness to rise by $210,000 at each degree of air cleanliness. What is the optimal degree of air cleanliness after this change?

Reference no: EM13137414

Questions Cloud

Find the minimal length of time the body stay in world : What is the minimal length of time the body should stay in the mold if the manufacturer wants to be 85% sure that the bonds have hardened?
Mr. branson lim : GenXY Motors Pte Ltd sells second hand cars. The company has four shops in different locations either within or outside of the city area.
What happen to confidence interval f sample size incresed : Discuss why the 90% and 99% confidence intervals are different. What would you expect to happen to the confidence interval in part A if the sample size was increased?
Explain carbon content of steel : Carbon content of steel, A steel contains 55% alpha-ferrite and 45% gamma-ferrite or austenite at 750 degrees celcius. What is the carbon content of steel?
What is the current minimum wage in the u.s : What is the current minimum wage in the U.S - what is the minimum wage for workers who receive tips and what is the current minimum wage for the state that you live in
What the term" popularization of religion" means : what the term" Popularization of religion" means
Explain the maximum flow past a circular cylinder : The maximum flow past a circular cylinder is 2 X the Up stream velocity. The max velocity occurs at the center line of the top of the cylinder.
Fixed costs for the production and marketing : Suppose the product manager of a new Flower Mills cereal has determined that the appropriate wholesale price for a carton of the new cereal is $48. The fixed costs for the production and marketing of the new product are $15million.
Description of crisis action planning : What are the strengths and limitations of organizations and how do these strengths and limitations affect crisis planning and management? How can appropriate leadership add to crisis management and planning?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Compute brazil and the united states with the state

Compute Brazil and the United States with the state of the economy.

  Federal government is giving more than it receives in tax

If the Federal Government is giving more than it receives in tax revenues in an effort to reduce unemployment

  Economy current stage in the business cycle

Determine the economy current stage in the business cycle and support your answer with an article written within the last week from popular press or blog.

  Discuss the ability to develop innovative products

Determine which best supports reason for why the use of teams by Anacorp Corporation is considered critical to its ability to develop and commercialize innovative products?

  Emily makes cartoons whioch she sells to her classmates

Emily makes cartoons whioch she sells to her classmates. Her average product of labor is 5 cartoons every hour if she works for one hour, four per hour

  Determine the expected impact on market equilibrium price

Using the Demand and Supply model anpredict what could happen to demand or supply curves and to equilibrium price. Include the curves in response.

  The company provides the broker with an infrastructure

the company provides the broker with an infrastructure, such as clerical support, phone services, and office space, and especially for new brokers, a base wage.

  Explain how should she reallocate her expenditures

Explain how should she reallocate her expenditures among the two goods.

  Estimate the demand for new products

How does your company or management go about estimating its sales? How does it determine the demand for new products so that it can make a production run?

  Explain they aim for a higher or lower target inflation rate

Explain they aim for a higher or lower target inflation rate. Will higher growth be achieved in the short run and the long run.

  Discuss price discrimination

Select 2 companies in the geographical location you live in and find out if they price discriminate. Why do these two companies price discriminate?

  Outsourcing decisions made by us companies

Determine the pros and cons of the following consequences of outsourcing decisions made by United States firms in response to increasing globalization and tougher competition in marketplace.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd