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Course: Econ Labor market (E-341)

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Question;Long Questions;Course: Econ Labor market (E-341);Book: George Borjas, Labor Economics, 6th edition, 2013;1. Teaching economics at Purdue is more hazardous than;teaching at IU: all those boilermakers;making boilers makes for a more dangerous work environment. The universities and the economists are;well-informed of the risks. Assume that;the universities are profit-maximizers.;a. Draw the hedonic wage function for the two universities;and the two sets of economists. (6 points);b. What is algebraic sign of the slope of the hedonic wage;function and what does it imply about workers and firms? (6 points);2. The state of Florida requires sex therapists;to graduate from the Florida Sex Therapy Institute in order to be licensed as a;sex therapist and to claim the title of Sex Therapist as an occupation. What are the economic effects on the labor;market for sex therapists? Use a;well-labeled model in your answer and explicitly show the effect on wage and;quantity employed. (8 points);3. Explain the term skill-biased;technological change. How does it;help us understand changes in U.S. income disparity over recent decades? Use an appropriate graph in your answer. (10 points)

 

Paper#55545 | Written in 18-Jul-2015

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