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Labor Policy
People of many different age groups and circumstances take advantage of part-time employment opportunities provided by the fast food industry. Given the wide variety of different fast-food vendors, the industry is fiercely competitive, as is the unskilled labor market. In each of the following circumstances, indicate whether the proposed changes in government policy are likely to have an increasing, a decreasing or an uncertain effects on employment in this industry.
A. Elimination of minimum wage law coverage for those working less than 20 hours per weekB. An increase in spending for education that raises basic worker skills.C. An increase in the employer portion of federally-mandated FICA insurance costs.D. A requirement that employers install expensive new worker-safety equipmentE. A state requirement that employers pay 8 percent of wages to fund a new national healthcare program.
Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )
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Describe the maximum insurance premium that the individual is prepared to pay.
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Explain how do the fiscal policy changes play a role in the theory of political business cycles
The total sum of squares is 400 and the sum of squares errors is 100, what is the coefficient of determination?
Discuss the impact on wages, employment in the industry, and the economic welfare of the following input market structures. In which case will the deadweight loss be the smallest?
Suppose the academy agrees explain how many athletes are required to eliminate the deficit.
Assume that the Fed is needs to keep the inflation rate so provide an anchor for inflation expectations.
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