laborexam2s09

laborexam2s09 - Labor Exam 2 March 26, 2009 By writing your...

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Labor Exam 2 By writing your PID below, you are indicating March 26, 2009 your intention to abide by the honor pledge: PID: There are ten short - answer questions worth 4 points apiece. There are three long - answer questions worth 10 points apiece. The space provided should be sufficient to answer each question. Short answer questions ( 30 minutes total ) 1. Suppose that workers are completely mobile between two sectors of the economy. A minimum wage imposed on one sector will cause wages to change in the other sector. Wages settle down when what condition is met? 2. Suppose that econometricians were to estimate the “hedonic wage function” for some job characteristic, like the risk of dying on the job. How do we then find the implicit price ( or “shadow price” ) of this characteristic? 3. In a simple ( discrete ) model of whether or not to invest in human capital, it is apparent that the investment decision depends on what four factors?
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Labor Exam 2, page 2 of 6 4. Under what circumstances can an increase in the minimum wage result in an
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laborexam2s09 - Labor Exam 2 March 26, 2009 By writing your...

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