Problem
1. What is labor economics? Which types of questions do labor economists analyze?
2. Who are the key actors in the labor market? What motives do economists typically assign to workers and firms?
3. Why do we need a theory to understand real-world labor market problems?
4. What is the difference between positive and normative economics? Why are positive questions easier to answer than normative questions?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.