Production possibilities curve and economic growth

Reference no: EM1373205

One of the limiting resources in our economy is time. As a society, we make selection about allocation of time in work and other pursuits. In the US, most workers are eligible for overtime pay if they work more than 40 hours a week, whereas most European workers become eligible at 35 hours each week. In addition, workers in Europe have guaranteed vacation time-five weeks in France-a benefit not available in the United State. As a result, the typical US worker puts in about 2,000 hours per year compared to 1,700 hours per year in France and Germany.

Should United State laws be changed to require a shorter work week and longer vacation time?
For each side of the question list three strong arguments. Use the following concepts from the chapter at least once.

- Production possibilities curve
- Economic growth
- Market mechanism
- Market failure

Reference no: EM1373205

Questions Cloud

Prepare a report for an international business magazine : Prepare a professional report for an international business magazine in which you identify the key high performance work practices and processes that the hypercompetitive global and innovative IT industry can deploy to ensure that it attracts and ..

Explain the buffett rule : Determine your interpretation as to whether or not capital gains taxes should be increased or decreased? Should general income taxes be increased or decreased?

Explain the fiscal cliff : Explain the so called fiscal cliff and expected impact for the State of Mississippi and Mississippi Delta and for the firms herein using the key words you may have learned.

Implications of various economic theories : According to CPI's estimation and in context of valuation of the major consumer products firms, do you believe analysts think the company is undervalued?

Production possibilities curve and economic growth : One of the limiting resources in our economy is time. As a society, we make selection about allocation of time in work and other pursuits.

General economic principles : Working on your Portfolio assignment through researching and selecting an article for your analysis. Appropriate articles are those that:

Impact of internet on market structure : Discuss and explain how the development of the Internet has changed the market structure in which firms operate. Remember that, we are assuming most companies can be categorized as being in ideal competition, monopolistic competition,

Determine gdp,ndp,gnp,nnp,ni,pi and di : Determine GDP,NDP,GNP,NNP,NI,PI,DI,S. Comment on savings magnitude that you have determined.

Determine the proportion of time that the barber is idle : Determine the proportion of time that the barber is idle also determine the average number of customer turned away per hour - How long will be waiting before they can have haircut

User Account

All Pages