Reference no: EM131399167
1. An increase in the wage can cause an increase in leisure when the substitution effect of the change in wage is directly (or positively related) to the change in leisure. True/false/explain, using the income-leisure model.
2. Use the income-leisure model to show the likely effects of the Social Security Disability Program. Assume the workers affected were working 40 hours prior to the increase in disability payments.
3. Suppose that the wage increases, other things constant. Show that in the long run the firm will hire fewer workers. Decompose the employment change into substitution and scale effects. Label your graph clearly.
4a. What happens to the firm's long-run labor-demand curve if the demand for the firm's output increases? Explain in words--no graph required.
b. What happens to the firm's long-run labor-demand curve if the price of capital decreases? Explain, using the isoquant-isocost model.
4. Consider a firm for which production depends on two normal inputs, labor and capital, with prices w and r, respectively. Initially, the firm faces market prices of w = 12 and r = 8. Then the wage rate falls to 8 and the rental rate on capital falls to 4.
a. In which direction will the substitution effect change the firm's employment of labor and capital? Explain in words.
b. In which direction will the scale effect change the firm's employment of labor and capital? Explain in words.
c. Can it be conclusively determined whether the firm will use more or less labor? More or less capital? Explain your answer in words.
5. Suppose a firm hires labor in a competitive labor market and sells its output in a competitive product market. The firm's elasticity of demand for labor is -0.4. If the wage increases by 20 percent, what will happen to the number of workers hired by the firm? What will happen to the marginal productivity of the marginal worker hired by the firm?
6. What factors determine the elasticity of an industry's labor demand curve?
7. What is the capital-skill complementarity hypothesis?
8. Read the document, "Calderon On Complementarity." Show this statement on a graph: "In the absence of low-skill migrant labor, many U.S. farmers would have invested more heavily in labor-saving technology." This is an exercise in the "counter-factual" occurrence-that is, without the large influx of immigrant farm labor that did occur, the wage rate for farm labor would have been higher and there would have likely been an increase in the capital-labor ratio.
9. Which of Marshall's rules suggest that labor demand for public school teachers is probably inelastic? Which rule suggests that demand for school teachers might be elastic?
10. "Small firms create most of the new jobs in the U.S. economy." True/false/explain.
11. Union A wants to represent workers in a firm that would hire 2,000 workers if the wage rate is $12 and would hire 1000 workers if the wage rate is $15. Union B wants to represent workers in a firm that would hire 3000 workers if the wage rate is $20 and would hire 3300 workers if the wage rate is $15. Which union is more likely to be successful in organizing? Explain.
12. Read the documents, "Taxing Kim Kardashian" and "Mickelson and Tax Migration."
a. Cite one way in which a tax has affected your behavior or the behavior of someone you know.
b. In your opinion, do income taxes reduce labor supply?
c. Show your belief on a graph of the income-leisure model.
d. On the other hand, your opinion might be wrong. Why?
Identify rumis religious worldview
: Identify Rumis religious worldview. Does he subscribe to the belief system of a specific religion, is his view more cosmopolitan, does he believe in God but critique certain systems of religion, or is he an atheist?
|
Determines whether or not the year is a leap year
: write a C++ program that accepts the year as user input, determines whether the year is a leap year, and displays a message telling the user whether the entered year is or is not a leap year.
|
Write a brief summary of your findings
: Write a brief summary of your findings (400 words minimum). The film provides some details that are sometimes trivial (so that it be more entertaining).
|
Discuss about the health care policy analysis
: You are a health care policy analyst for the local health department. You have been tasked with identifying a policy relevant to health care (e.g., obesity, smoking, asthma, etc.) from your state health department. Once identified, you are to cond..
|
Elasticity of an industry labor demand curve
: Suppose a firm hires labor in a competitive labor market and sells its output in a competitive product market. The firm's elasticity of demand for labor is -0.4. If the wage increases by 20 percent, what will happen to the number of workers hir..
|
How did they know the volcano was going to erupt
: You are a news reporter for a local paper and have just learned volcanoes are the most fascinating phenomena on Earth. The name the Volcano you are reporting on. How did they know the volcano was going to erupt
|
Perform a rhetorical analysis of walking by thoreau
: Evaluate the author's argumentation, while simultaneously keeping an eye towards following the rubric in your own writing. Essentially, you will need to make your own strong argument about whether or not the author is making a strong argument, and..
|
Does the measured gain values match the given values
: Does the measured gain values match the given values? If not, explain why they are different? From the noise spectral density curve, explain the effect of increasing the frequency on the noise voltage.
|
Research about the family nurse practitioner role
: Research about the Family Nurse Practitioner role and summarize your findings in a 3 page paper. Explain the main characterists of the nursing role to research.According to the NPSGs, distinguish the role as clinical or non-clinical and how it promot..
|