Consider two countries, Germany and Poland. Both countries have two factors of production(Labor and Capital), produce the same homogeneous good and use the same technology. Theonly difference between them is that Germany is relatively more abundant in capital thanPoland.3.(a) Using a graph compare the wages in Germany and Poland, assuming there is absence offactor mobility.(b) Now allow for migration (i.e. labor mobility), but not for capital mobility. Who gains andwho loses in Germany? Illustrate your answer graphically.(c) Show that the "original" residents of Germany gain, i.e., the gains of those who gain inGermany more than compensates the loss of those who lose.

As we know, Germany is a capital abundant country and there is a shortage of labour so the price…

Answered: Consider two countries, Germany and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If these population changes were only due to human migration, what conclusions could be made, based on the map? a) The majority of states are experiencing immigrationtherefore, the overall country has an increase in population size b) The majority of states are experiencing emigration therefore, the overall country has an increase in population size. c) The majority of states are experiencing immigration; therefore, the overall country has a decrease in population size d) The majority of states are experiencing emigration; therefore, the overall country has a decrease in population size
dont use chatgpt answer In the specific-factors model, labor migration from Mexico to the United States will cause _________ in U.S. low-skilled wages and _________ in Mexican low-skilled wages. A) increases; decreases B) increases; increases C) decreases; decreases D) decreases; increases
(3) __________________________ __________________________ occurs as the result of a set of workers skills becoming obsolete.
Consider the standard trade model with two goods and two factors, labour and capital(d) Explain the difference between export-biased growth and import-biased growth,commenting on their economic impact. (e) Discuss two reasons why international trade has strong effects on the distribution ofincome.(f) Explain why economists often consider the effects of free trade on incomedistribution to be less important than the effects on overall welfare. Discuss anexample where the distributional effect has had more lasting importance.
1. Economics: Labor Economics Thank you for your help and support Academic Agent!
Question No.3 Consider the following IS–LM model: C = 200 + .25YD I = 150 - 1000i G = 250 T = 200 L = 2Y - 8000i M/P = 1600 Derive the equation of IS Curve. Derive the equation of LM curve. Solve for equilibrium real output and interest rate.
1. Why wages differ For each of the scenarios in the following table, indicate the most likely reason for the difference in earnings. Differences in Human Capital Scenario Major-league hockey goalies earn more than minor-league hockey goalies. Research done in the United States, based on U.S. Census data, finds that during an adult's working life-high school graduates earn an average of $1.2 million, associate's degree holders earn about $1.6 million, and bachelor's degree holders earn about $2.1 million. Two automotive technicians have the same amount of schooling and work experience, but earn different wages. The first works the day shift for an auto manufacturer factory for an annual wage of $50,000 per year, and the second works the night shift for the same company for an annual wage of $60,000 per year. Compensating Differential Differences in Natural Ability Labour Unions
A job is a contract between a and a A. bank; household; capital B. manufacturer; retailer; entrepreneurial C. firm; household; labor OD. bank; firm; capital for providing C services.
2. Consider a labour market with 3 types of workers: great workers, normal workers, and perpetually lazy workers. The population is composed of a great workers, a proportion of ẞ of normal workers, and the remaining 1-a - B lazy workers. A firm is looking to employ workers. The productivity of each type of workers are $50, $20 and $10 respectively but the firm does not know productivity, only workers do. Workers are willing to work as long as they get paid no less than $5 lower than their productivity (example: lazy workers are willing to work for $5 and up). For which values of (a, B) are all workers employed in equilibrium? For which values (a, ẞ) only the normal workers and lazy workers employed, and for which values of (a, B) are only the lazy workers employed? Explain your findings!
5. Using a labour-leisure model, show how the introduction of time and a half for overtime (i.e. the firm must pay a hourly wage 50% higher for any hours of work that exceed 8 hours per day) affect the hours work decision and the level of satisfaction. Assume the worker was working 10 hours per day prior to the government regulation.
Table 28-1Sample Population Person Status Allen Unpaid stay-at-home dad. Has not looked for a job in several years Ben College president Allison Part-time welder. Actively looking for full-time work Brittany Self-employed full-time wedding singer Cathy Full-time physician's assistant Calvin Retired finance professor. Last applied for work 10 weeks ago Diane Laid-off fork-lift operator expecting to be recalled David Works for a bicycle store. Age 70 Evelyn Manager of health food store Eli Museum guard. Was not at work last week due to illness Flora Has never been employed. Looked for a job last week Frank Fired from job as an investment banker. Last looked for work three weeks ago Refer to Table 28-1. How many in the sample are in the labor force? a. 11 b. 10 c. 9 d. 8
QUESTION 22 Which of the following statements is true about the importance of education to African Americans after Reconstruction? Oa Many viewed it as useless since they largely worked as common laborers. Ob They saw education and freedom as linked and went to great length to get it Oc They saw it as important but felt that they had to accomplish other things first Od. They already had access to education, school attendance and attitudes did not change QUESTION 23 Which former Confederate state had the largest number of African American officeholders during Reconstruction? Oa. Alabama Ob. South Carolina Oc. Texas Od Virginia QUESTION 24 Which of the following statement is NOT true about African American officeholders during Reconstruction? Oa They were always well-qualified for their office. Ob. Only a small minority had attended college. Oc Some had been free before the war, some had been slaves Od. Farmers and workers were well represented

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