Reference no: EM1361816
Robert Frank, writing for the Wall Street Journal (9-30-10), speculates on whether the wealthy or non-wealthy work harder. An excerpt from the story:
"British billionaire Richard Branson is quoted today as saying that the wealthy don't work harder than everyone else - they are just fortunate. "Yes, entreprenuers may work hard, but I don't think they actually work any harder than, say, doctors, nurses or other people in society, and yet tremendous wealth comes with it and therefore enormous responsibility comes with that wealth, responsibility to do good things, maybe create new businesses and maybe tackle some of the more seemingly intractable problems in the world.."
He may be right. But studies on the comparative work habits of the wealthy tell a different story. Research by professors Mark Aguiar and Erik Hurst combined the results of several large surveys (including studies where randomly chosen subjects kept detailed time diaries), and found that the working time for upper-income professionals has increased compared with 1965, while total annual working time for low-skill, low-income workers has decreased."
Question: based solely on the above, can you explain which individual - the wealthy person or the low-skilled worker - has a higher reservation wage?
|
Explain this in terms of the core benefit
: Explain this in terms of the core benefit and actual product and augmented product levels of 787 Dreamliner
|
|
Caluclate gdp and employment stable
: If Congress prefers to decrease spending, rather than raise taxes, in an effort to reduce the budget deficit, determine the Fed do to keep GDP and employment stable?
|
|
Agencys effectiveness
: Obtain a copy of an agency's budget and the agency's mission statement. Keeping in mind the mission and research that you have done about the agency, identify a change,
|
|
Suggestion to to drinkers
: They often complain on Monday that they did not enjoy the weekend when they were kept indoors due to headaches. What advice, short of abstinence, would you give to these people?
|
|
Explain which wealthy person has reservation wage
: studies on the comparative work habits of the wealthy tell a different story. Research by professors Mark Aguiar. Explain which wealthy person has reservation wage.
|
|
Show classical school of management
: Classical School of Management - In what ways can you identify with this style?
|
|
Promoting better patient care
: Interdisciplinary team concepts promote better patient care through increased communication.
|
|
How many megabytes of data storage space are needed
: The telephone exchange can store 3 minute audio messages of the same quality as that of the telephone channels. how many megabytes of data storage space are needed to store each of these messages?
|
|
Calculate the amount change
: Given that Humphrey Dog Toys Inc.'s stock is currently selling for $50 a share, calculate the amount that Elmer D. will make, or lose, on each of the following transactions
|