No needed to answer all these questions, but I'd greatly appriciate if you can answer as much as possbile. Thanks 1. Income insurance. Read Gerald Friedman, “Dog Walking and College Teaching: The Rise of the Gig Economy” a) Use diminishing marginal utility theory to explain why people would prefer stable income to receiving the same total income but with much more variation week to 3 week. b) Would it be desirable to provide workers with some other form of income security? Would you expect private insurance companies to sell such policies (e.g. unemployment insurance?) 2. Financial markets: efficient and other. a) What has happened to the profitability of financial firms in the US economy in recent decades and their profitability relative
Economics
No needed to answer all these questions, but I'd greatly appriciate if you can answer as much as possbile. Thanks
1. Income insurance. Read Gerald Friedman, “Dog Walking and College Teaching: The Rise of the Gig Economy”
a) Use diminishing
b) Would it be desirable to provide workers with some other form of income security? Would you expect private insurance companies to sell such policies (e.g.
2. Financial
a) What has happened to the profitability of financial firms in the US economy in recent decades and their profitability relative to other capitalist businesses?
b) Would you expect financial firms to make excessive profits under conditions of
3. Equilibrium discrimination and crowding. Suppose there are two occupations: doctors and nurses.
a) Draw hypothetical
b) Who benefits and who loses from this discrimination? Show the effect of discrimination on wages and employment in both occupations and on total output in each. (Hint: have one graph for doctors and a separate one for nurses.)
c) In a situation with gender-based discrimination, why do women and men marry and why do wives do more home production and child-rearing while husbands do more market work? If discrimination is ended, would you expect this gender-based intrafamily division of labor would persist? Do you think that there would be less heterosexual marriage?
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