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Suppose real growth slows down to 2½% because of a change in consumer and business sentiment. How much would the unemployment rate change each year?
From 1993 through 1995, compensation per hour in the US rose an average of 2.2%. Using the standard labor market diagram, explain how these events were related.
Assuming that Krueger is correct, why is he less confident' that a further boost in the minimum wage would have no adverse effects?
Explain how each of the given factors kept wage gains from accelerating. Demise of the efficiency wage and Reduced power of unions.
What impact do you think that had on the real wage and employment gains for the rest of the decade?
Over the period from 1979 through 1989, manufacturing employment fell by 1.6 million. What factors caused the relative decline in manufacturing employment?
What do you think would happen to Boston area rents and housing prices if in fact the minimum wage were set at $15.28 per hour?
What does this evidence say about the relevance of the claim that sticky wages and prices cause high unemployment?
What steps should those governments take to bring the unemployment rate down to the 4.3% rate in the US and the UK without boosting the rate of inflation?
Harvard historian James Landis has argued that most of the long-term differences in productivity growth among countries. Defend or reject this hypothesis.
What measures of monetary stimulus were used? What measures of fiscal stimulus were used? Why did the economy fail to respond very much to these measures?
What were the major factors causing growth to slow down after 1973? To what extent were the same factors present in the post-1991 slowdown?
How is full employment defined, and why does the full-employment rate of unemployment keep changing?
What would social security payments have been in 2001 if the actual rate of inflation had been used?
What further information would be required to determine the underlying rate of inflation? Suppose the core rate for the intermediate rate rose 0.1%.
What are the major causes of error in the preliminary NIPA data, and what could be done to reduce these errors?
which is not unusual - what conclusions can be drawn about basing business plans on the latest monthly employment and unemployment data?
If economists generally agree that fixed-weight price indexes overstate. Why is the CPI still the most popular and widely quoted measure of inflation?
Why would have been the case had the auto industry merely announced an actual 2% price reduction.