Answer question 7 C: French 35 hour working week6. In 1999, the French minimum wage was around 50 francs. Describe the (francs / hours ofleisure) trade-off for a French minimum wage worker algebraically and graphically, showingthe connection between the two. (Note: Assume there are 170 hours in a week.)7. The unemployment rate at the time was 10%, and a confederation of large businessescampaigned for a reduction in the minimum wage from 50 francs to 30 francs. How wouldthis affect the budget set of a minimum wage worker?8. The confederation's proposals were rejected and, in 2000, the French government attackedthe problem of unemployment by introducing the 35 hour working week. Draw the effect ofthis policy on a minimum-wage worker's budget set. (Careful...)Section three - the interpretation of policyD: Minimum pricing of Alcohol9. In 2012, the Scottish government introduced a 50 pence minimum price for a unit of alcohol.[One bottle of beer has about 2 units.] Assume that an alcoholic has £60 a week to dividebetween food and alcohol. How will this policy affect the alcoholic? (Feel free to make upprices.) Optional: how do you think the alcoholic would react?

Unemployment rate = 10% Minimum wage decreases from 50 francs to 30 francs

7. The unemployment rate at the time was 10%, and a confederation of large businesses campaigned for a reduction in the minimum wage from 50 francs to 30 francs. How would this affect the budget set of a minimum wage worker?

7. The unemployment rate at the time was 10%, and a confederation of large businesses campaigned for a reduction in the minimum wage from 50 francs to 30 francs. How would this affect the budget set of a minimum wage worker?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Answer question 7

C: French 35 hour working week
6. In 1999, the French minimum wage was around 50 francs. Describe the (francs / hours of
leisure) trade-off for a French minimum wage worker algebraically and graphically, showing
the connection between the two. (Note: Assume there are 170 hours in a week.)
7. The unemployment rate at the time was 10%, and a confederation of large businesses
campaigned for a reduction in the minimum wage from 50 francs to 30 francs. How would
this affect the budget set of a minimum wage worker?
8. The confederation's proposals were rejected and, in 2000, the French government attacked
the problem of unemployment by introducing the 35 hour working week. Draw the effect of
this policy on a minimum-wage worker's budget set. (Careful...)
Section three - the interpretation of policy
D: Minimum pricing of Alcohol
9. In 2012, the Scottish government introduced a 50 pence minimum price for a unit of alcohol.
[One bottle of beer has about 2 units.] Assume that an alcoholic has £60 a week to divide
between food and alcohol. How will this policy affect the alcoholic? (Feel free to make up
prices.) Optional: how do you think the alcoholic would react?

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