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Suppose that all young women were channeled into careers as secretaries, nurses, and teachers. At the same time, young men were encouraged to consider these three careers and many others as well.
a. Using graphs, show the combined labor market for secretaries, nurses and teachers. In a separate graph, show labor market for all other fields. In which market is the wage higher? Who receive higher wages on average: men or women?
b. Now suppose that society changed and encouraged both young women and young men to consider a wide range of careers. Over time, what effect would this change have on the wages in the two markets you illustrated in part (a)? What effect would the change have on the average wages of men and women?
If the amount you owe on your house is greater than the price of the house, you have
The research department of Wilson has discovered a new technology on how to make more durable tennis balls and is considering whether or not to adopt the new technique.
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Bill Katz prefers more of good 1 to less and he prefers less of good 2 to more. Bill has convex preferences. Draw his indifference curve with good 1 on the horizontal axis and good 2 on the vertical axis. Is the curve positively or negative slopped? ..
Discuss and explain similarities and differences in the roles economists play as policy makers and as scientists.
Home's demand curve for wheat is P = 40 - 1/2 (QD) and supply is p = 10 + 1/2 (QS). Illustrate graphically the different economic effects if citizens of home are allowed to buy the wheat in foreign markets and the world price is $20. Compute the econ..
Thomas works in a non-military operation of a large operation that does both non-military and military goods. This company discontinued the production of non-military goods and transferred Thomas to a plant that produced military goods.
Describe the economic growth scenario for U.S in the aftermath of the Great Recession. Explain. Explain this: how is economic growth affected by prevailing employment or unemployment levels in the economy?
Consider the model of land assembly (under the topic Eminent Domain). Specifically, assume that a buyer want to buy two contiguous properties owned by two different owners. You can assume that the properties are identical in all respects. There two p..
During the 2012 presidential election campaign, Texas Governor Rick Perry criticized the actions of the Fed Chair Ben Bernanke. He Argued that, "Printing more money to play politics at the particular time in American history is almost treasonous in m..
A local restaurant initially estimated a large demand for dining in a space near a floor-to-ceiling fish tank. The cost of the tank is $8 million. Does this statement reflect the appropriate decision-making criteria? What is the appropriate criterion..
The demand function for a transit system can be represented by a straight line connecting fare per person and ridership. Observations made on this system resulted in the following: When the fare was $1.5 per ride, the ridership per hour was 2000; whe..
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