SAMPLE-Assignment - Fall 2010 ECON1010 SAMPLE : Do we work...

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Fall 2010 ECON1010 SAMPLE : Do we work too hard? One of the limiting resources in our economy is time. As a society, we make choices about the allocation of time between work and other pursuits. In the US, most workers are eligible for overtime pay if they work more than 40 hours a week, whereas most European workers become eligible at 35 hours per week. In addition, workers in Europe have guaranteed vacation time-five weeks in France-a benefit not available in the US. As a result, the typical US worker puts in about 2,000 hours per year compared to 1,700 hours per year in France and Germany. Question: Should US laws be changed to require a shorter work week and longer vacation time? For each side of the question list three strong arguments. Use the following concepts from the chapter at least once. Production possibilities curve Economic growth Market mechanism Market failure Sample answers: No 1. A reduction in the work week would shift the production possibilities curve in, reducing the capacity of the economy to produce. Americans value the output that
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This note was uploaded on 12/05/2011 for the course ECON 2010 taught by Professor Staff during the Fall '08 term at Utah Valley University.

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SAMPLE-Assignment - Fall 2010 ECON1010 SAMPLE : Do we work...

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