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Does the difference in the relative black wage across regions indicate that southern employers discriminated more than northern employers?
Calculate the impact of each of the developments on the relative wage of skilled and unskilled workers.
Ms. Aura is a psychic. She is not like other psychics in her approach. Could you summarize the lesson of this problem for the superstar phenomenon?
Is land a renewable or non-renewable re-source? Explain your answer. Is a screwdriver an example of fixed or working capital?
Explain why the Bank's influence on interest rates is so pervasive? What is meant by the term thigh-powered money?
How will an open market purchase of securities by the government affect the supply of high-powered money?
Why does the Bank of England act to influence short-term rather than long-term interest rates? In what ways are fiscal policy and monetary policy related?
What is common in a common market? Why is free competition in transport important in stabilizing a single market?
Is full economic union in Europe possible without monetary union? What political and economic reasons can you think of to account for this?
Which UK industries do you consider most likely to benefit from the 1992 changes, and which could be adversely affected? Explain your answers.
Prepare a case for the siting of a future European Central Bank in London rather than Frankfurt. Paris or some other continental financial center.
Why was the UK slow to become a full member of the EMS, and why has it been resisting the idea of European monetary union?
What UK professions are likely to experience increased opportunities on the Continent as a result. How might your likely chosen profession be affected?
Describe the impact of a payroll tax on wages and employment in a competitive industry. Why is part of the tax shifted to workers?
Show how the imposition of a minimum wage on a monopsony can increase both wages and employment. Describe the hiring decision of a monopolist.
Illustrate the trend in the employment and wage of economists as the market adjusts to this increase in demand.
Suppose the supply curve of physicists is given by w = 10 + 5£, whereas the demand curve is given. What is the new equilibrium level of wages and employment?
What will happen to the wage of native workers if the penalties for hiring illegal aliens increase?
Suppose a firm is a perfectly discriminating mon-opsonist. The government imposes a minimum wage on this market. What happens to wages and employment?
What will be the effect of this immigration on wages in each of the regions in the short run (before any migration between the North and the South occurs)?
Suppose we are trying to predict the positions that three candidates will take. Can we use the median-voter theorem to analyze this problem?
In researching a voting system, you discover that it obeys three criteria. With this information, what else do you know about this system? How can you be sure?
Determine how much to spend on their park, 10 percent or 15 percent of the budget. What characteristic of the ideal voting system is violated in this example?
Which imposes higher costs on people seeking to become informed voters, and why? Which carries higher benefits to voting, and why?
Explain why a policy like International Trade might persist even if it was unpopular with the majority of voters.