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ECN150 module 7 assignment




Question;PART;I;Directions;Please;answer each of the following questions, writing a paragraph for each. Explain your thoughts with theory and;examples where applicable.;1. A;recent flood in the Midwest has destroyed much of the farmland that lies in;fertile regions near the rivers.;Describe the effect of the flood on the marginal productivity of land;labor, and capital. How would the flood;affect the price of inputs? Provide some;examples.;2. A;recent study of the determinants of wages for clerical staff at a state;university found that years of schooling, years of experience, age and job;characteristics only explained about one-half of the difference in wages. Describe other factors that may be important;in explaining wages differences for clerical staff.;3. After;graduating from college, you receive job offers from five different accounting;firms. All job offers have a different;compensation package. Is it irrational;for you to accept an offer that doesn't provide the highest level of monetary;compensation? Use the concept of;compensating differentials to explain your answer.;4. List;the productivity factors that may explain the differences in pay between men;and women in similar occupations. Do any;of these factors arise as a result of cultural or social traditions? If so, describe how changes in social;relationships will affect the pay gap over time.;5. Explain;the role that consumers play in perpetuating discrimination in labor markets.;6. Outline;the possible work disincentives created by anti-poverty programs. Is there a way to solve this problem without;causing other forms of inefficiency to arise?;Explain your answer.;7. What;are the primary price inputs in the microeconomic market?;PART;II;After;watching Krugman?s video this week, do you concur with the assessment that;growing income inequality threatens the middle class? Identify a competing argument, paper, and;theorist. Who is the most qualified;voice that dissents from Krugman?s thesis?;Write a two page position paper and cite at least two peer-reviewed;sources. Please utilize LIRN to help you;get started with your search. You may;visit the Academic Resource Center for a guide on how to utilize LIRN;successfully.;PART III: Reflection Essay;Write a one page paper on what you found most useful in this;module. What was the biggest take-away;lesson you learned and how do you see firms applying the topic to decision;making in a microeconomic methodology?


Paper#56547 | Written in 18-Jul-2015

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