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Problem 1:
(a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model?
(b) Compare and contrast the functioning of the income and substitution effects of the two models.
Problem 2:
(a) The monopoly union model assumes that union sets wage rate while the firm sets the level of union employment, based on this wage rate. Using appropriate equations and diagram, explain carefully the functioning of the monopoly union model.
(b) Comment on the direct and indirect test of the Efficient Contract model
Demonstrate graphically the cost of income taxation of 30% to consumers and producers for an income of $27,908. How does the taxation change if the income was $220,874? How does
If an economy is experiencing reduction, will the nominal interest rate be higher or lower than the real interest rate? What is the equation that relates nominal rates, inflation a
is industrial ethics contradictory?
In what conditions might you (1) increase or (2) decrease the amount of supervision specified to a team member? Where a quality problem has been distinguished in an individual’
How does economic theory contributes to managerial decisions?
how does economic theory contribute to managerial decisions?
Is there a consensus view on the responsibility of government? Highly controversial and depends onto your view like to whether markets work. International agencies as like the
concept ofexploitation of labour
New trade theory
How does culture influence the development process? Culture influences what is of value into a society and affects how individuals, communities and organisations react to modi
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