ps4 - PS 4 Due in Section during the Week of March 3 1 This recent New York Times article describes the current political debate surrounding legislation

ps4 - PS 4 Due in Section during the Week of March 3 1 This...

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1 PS 4 Due in Section during the Week of March 3 1) This recent New York Times article describes the current political debate surrounding legislation for a new trade agreement: Using the insights from the economics of trade that we discussed in class, as well as your own views on trade, discuss the strengths and weaknesses of a) President Obama’s position on the legislation b) The Congressional Democrat s’ position. Total: no more than 1 page. 2) This article from last week New York Times discusses the possible effects of a recent proposal to raise the U.S. minimum wage: - wage.html?ref=business a) Draw a graph of the US labor market. Label all the axes and the curves. Assume that all workers are the same, the current equilibrium wage (before the proposed change in minimum wage) is $8 an hour and that at that wage there are 2 million employed workers and no unemployment.
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