Problem
In this course, we will learn that economics is "the study of how to allocate scarce resources among competing uses." One of the limiting resources in our economy is time. As a society, we make choices about the allocation of time between work and other pursuits. In the United States, 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 per week. In addition, workers in Europe have guaranteed vacation time--five weeks in France¬-a benefit not available in the United States. As a result, the typical U.S. worker puts in about 2,000 hours per year compared to 1,700 hours per year in France and Germany. Should U.S. laws be changed to require a shorter workweek and longer vacation time?