HW4_302 - Questions 1, 2, 4, 6. Chapter 3: Problems Eigth...

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Econ 302- 4th Problem Set Spring 2010-Ali Toossi Due: Wednesday, February 24 All problem sets should be prepared neatly and professionally. Problem sets should be typed , stapled and should contain the following information on the right-hand corner of the page: your name , course number , section , assignment identification and date . Problem sets that are sloppy, torn from spiral-bound notebooks, or which are illegible, or unstapled, will be graded down. Please do the following problems in the textbook plus the additional problems. Chapter 3: Questions for review Eigth edition page 77: Questions 1, 2, 4, 6. Seventh edition page 77:
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Unformatted text preview: Questions 1, 2, 4, 6. Chapter 3: Problems Eigth edition page 77-79: Problems 1, 3, 4, 5, 6, 7, 8, 11, 12, 18, 19 . Seventh edition page 77-79: Problems 1, 3, 4, 5, 6, 7, 8, 11, 12, 18, 19 . Additional Problems: 1) Use a labor market supply and demand model to answer the following questions. a) From an equilibrium position a minimum wage is set above the going wage. Sketch graph this possibility and show 1) the amount of new entrants into the labor market, 2) the number of workers laid-off from their jobs. b) Is society better or worse off because of the new minimum wage law?...
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This note was uploaded on 02/14/2011 for the course ECON 302 taught by Professor Avrin-rad during the Spring '09 term at University of Illinois, Urbana Champaign.

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