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Include the advertised salary for each job. Explain why each wage is higher, lower, or the same as the current federal minimum wage.
Identifying What are the reasons for the income gap between men and women? Why is it necessary to consider inflation when examining the minimum wage?
Explain significance of giveback, two-tier wage system, glass ceiling, set-aside contract, minimum wage, current dollars, real or constant dollar and base year.
Signaling Theory Look at some help-wanted ads in your local paper. What criteria do they often specify, and how do these criteria relate to signaling theory?
Price Floor Interview 10 classmates who have part-time jobs. Identify where they work and who gets paid at, below, or above the federal minimum wage.
Making Generalizations To what extent do you think government should be involved in the free enterprise economy? Defend your answer.
Comparing and Contrasting Why are monopolies faced with more government regulations than other market structures?
Why does the federal government attempt to preserve competition among business enterprises? What different methods does the government have available.
Describe the characteristics that make the U.S. economy a modified free enterprise economy.
Explain why the private sector is reluctant to produce public goods. Identify the purpose of antitrust legislation.
Summarize the information in a short paragraph. Why do you think the bank is so forthcoming with this information?
Synthesizing Information Identify at least two instances where you have personally benefited from government regulations. Explain the benefits.
Making Inferences Why do governments regulate monopolistic cable companies and not prohibit them?
Why is the government involved in economic affairs? Explain the significance of trust, price discrimination, cease and desist order, and public disclosure.
Write a short paper outlining your suggestions. How would you advise the government to reduce these negative effects?
Understanding Cause and Effect Analyze some of the positive and negative externalities that could result from the closing of a military base.
Explaining Why do markets need both adequate competition and adequate information? The BIG Idea List and explain the reasons why markets fail.
Describe the significance of market failure, public goods, externality, negative externality, and positive externality.
Why did the federal government establish agricultural price support programs? How do markets speak collectively for buyers and sellers?
Discuss the significance of price ceiling, minimum wage, price floor, target price, nonrecourse loan, deficiency payment.
Equilibrium Price Select a product that appears in newspaper ads. What does the information tell you about the equilibrium price of the product you selected?
Understanding Cause and Effect What will happen to the price you pay for concert tickets if a popular group has to move its show to a smaller facility? Why?
Making Inferences What do merchants usually do to sell items that are overstocked? What does this tell you about the equilibrium price for the product?
Explain the significance of economic model, equilibrium price, surplus, and shortage.
Rationing List five items you would like to buy. How does the price of each item affect your decision to allocate scarce resources-your money and your time?