laborexam3f03

laborexam3f03 - Economics 421 Fall 2003 Lich-Tyler Final...

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Economics 421 Fall 2003 Lich - Tyler Final Exam There are ten short - answer questions worth 4 points apiece. There are four long - answer questions worth 15 points apiece. The space provided should be sufficient to answer each question. If you must use more space, clearly indicate that the answer is continued onto the back side of the page. Pace yourself, and good luck. 1. List the four components of labor supply. 2. A proposed policy gives a tax credit of $ 2,000 to each family, regardless of how much they earn. To fund this, the average income tax on labor earnings would be increased from 18 % to 23 % . How would this policy affect labor supply? 3. Explain how efficiency wages can lead to a greater supply of effort. 4. There are three job openings ( 1, 2, and 3 ) and three workers ( A, B, and C ) . Here are the workers rankings of firms, and the firms rankings of applicants: First choice Second choice Third choice Worker A Job 2 Job 1 Job 3 Worker B Job 1 Job 2 Job 3
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This note was uploaded on 03/19/2010 for the course ECON 480 taught by Professor Kinlaw during the Spring '08 term at UNC.

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laborexam3f03 - Economics 421 Fall 2003 Lich-Tyler Final...

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