Solutions to Chapter 2 Labour Economics Essay - 1721 Words

Chapter 2 Exercises Solutions Answer to end of chapter questions: 2. The labour force is calculated as the sum of the employed and the unemployed, which in this case is 22,000,000 + 1,000,000 = 23,000,000. The labour force participation rate is calculated as the ratio of the labour force to the working age population: 23,000,000 / 30,000,000 = 77 %. The unemployment rate is calculated as the ratio of the number of unemployed workers to the size of the labour force: 1,000,000 / 23,000,000 = 4.3 %. 4. a) The poor who are at minimum subsistence and who aspire to middle class consumption patterns: This group values income highly relative to leisure, so the indifference curve is relatively flat. As the wage increases, the income†¦show more content†¦At the same time, they become richer, and can maintain the living standard while purchasing more leisure. That effect pushes her to work less. The net effect of +18 induces them to work more. d) According to this equation, it would lead to a net increase of 25 percentage points. The pay cut for the husband would increase the labour force participation of wives, as they have to work more to maintain living standards. e) We are given no information on the hourly wage, so technically we cannot answer this question. The variables which appear in this equation for expected earnings include both wages and hours worked. For the less precisely defined quantities of uncompensated and the pure elasticities for expected income, the former is 18*(6/35), and the latter is 25*(6/35). We use only the coefficient pertaining to the wife for these own elasticities. f) Yes it does. The total effect of the expected earnings of women on their labour force participation far outweighs the negative income effect of non-labour income earned by their husbands. As the returns from working for women increased a lot in recent decades, the labour force participation rate increased. The main reason is a substitution effect that dominated the income effects from both earners on womens labour force participation. 6. a) For this case, we assume that the husband continues to work 40 hours per week, or 8 hours perShow MoreRelatedThe Great Divergence : China, Europe And The Making Of The Modern World Economy Essay1726 Words   |  7 PagesDuring the long time of economic history, the Industrial Revolution happened in England in the eighteenth century is definitely a turning point which triggers many scholars’ interests. Gregory Clark, the author of A Farewell to Alms: A Brief Economic History of the World, claims that the average person of 1800 was no better off than their remote ancestors of the Palaeolithic according to the Malthusian Trap. 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Chapter 2 contains related concepts, literature review previous researches and theoretical models. Chapter 3 presents research approach, collection procedure and analysis tool. Chapter 4 discusses findings obtained from the collected data. Chapter 5 provides discussions and recommendations. 2. LITERATURE REVIEW Some important terms will be defined in this chapter. Then, theoretical

Football And Aristotle s Philosophy Of Friendship

Friendships are a main aspect of what we seek for in life, for Aristotle says that â€Å"without friends, no one would choose to live,† (Football and Aristotle s Philosophy of Friendship, Pg 32). Through excerpts from Gallagher’s â€Å"Football and Aristotle s Philosophy of Friendship†, McMahon’s â€Å"Seinfeld Subjectivity, and Sartre,† Condella’s â€Å"Why can’t we be virtual friends,† and finally Thalos’ â€Å"Why I am not a friend,† we can determine the reasons why we hold friendships so dearly to us. In Gallagher’s essay, he reveals Aristotle’s view that friendship is separated into three types, and what we get from these types of friendships. While in McMahon’s essay we will see the hidden connotations of the show â€Å"Seinfeld,† as well as Philosopher Sartre’s view of how friendships play a huge role in forming our identity. Then going into Condella and Thalos’ ess ay’s, we step back to take a look at if quality friendships can be built on Facebook or if we need â€Å"face to face,† interactions. Lastly we can see many examples in Reiner’s movie of different kinds of friendships and how they affect us. In Gallagher’s essay â€Å"Football and Aristotle s Philosophy of Friendship,† he explains philosopher Aristotle’s conclusion that â€Å"friendship is based on utility, pleasure, a shared commitment to a good, or some combination of the three,† (Pg33). First, what Aristotle means by a friendship based on Utility is that the two people consisted in the friendship will gain something from it. I see this inShow MoreRelatedGreat Minds: The Essential Guide for Teachers7827 Words   |  32 Pagesâ€Å"essential† or Visit: www.tslshop.co.uk/tsl/essential For thousands of free teaching resources visit www.tes.co.uk/teaching-resources www.tes.co.uk Log on and be inspired. WHERE THEORY MEETS PRACTICE A TES Essential Guide Educational philosophies are complex and wide-ranging. In this TES Essential Guide, James Williams, a lecturer in education at the University of Sussex, makes sense of it all. Theory and practice 4 What it’s all about. Bloom’s taxonomy of learning 8 Bloom’sRead MoreLogical Reasoning189930 Words   |  760 Pagesupdated: April 26, 2016 Logical Reasoning Bradley H. Dowden Philosophy Department California State University Sacramento Sacramento, CA 95819 USA ii iii Preface Copyright  © 2011-14 by Bradley H. Dowden This book Logical Reasoning by Bradley H. Dowden is licensed under a Creative Commons AttributionNonCommercial-NoDerivs 3.0 Unported License. That is, you are free to share, copy, distribute, store, and transmit all or any part of the work under the following conditions:

Global Warming And The Climate Change - 1740 Words

By 2014, about 81% of the total 98.3 quadrillion Btu of energy used are produced by burning petroleum, natural gas, and coal in the United States (US EIA). Could you imagine how much greenhouse gases are produced in the energy extraction process, and how could these gases intensify global warming and climate change? In Naomi Klein’s book, This Changes Everything: Capitalism vs the Climate, Klein describes climate change as a catastrophic crisis that the whole world is encountering. Hundreds of cities are threatened by rising sea-levels, wildlife are in danger due to disruption of ecosystems, more extreme heat waves are recorded, all of these are essentially catalyzed by climate change. Klein blamed on capitalism, an economic model used by†¦show more content†¦As evidence of climate change become more conspicuous and understandable, many suggestions were offered by scientists, politicians, and journalists to fight for it. One of Klein’s ideal approaches to tackl e climate change is that the government should tell the industry that â€Å"we will support you, but only if you support the communities from which you profit, by providing well-paying local jobs, and sourcing your products locally† (126). However, no matter how much money a person has, one barely invests all of it solely to one aspect of interest, as most of us have a lot to take care of in life—family, residence, properties, friendship—while we have limited time and money. This is the same for corporations which are all managed by humans, who choose what to invest on for maximum profit. They do not make non-profitable investment which involves a too broad range of business, including both renewable and non-renewable industries. Consequently, the non-renewable employment sector must decline in response to the cooperation between companies and the government to provide more renewable jobs. According to the official statistics on the Bureau of Labor Statistics, t he fossil fuel business—extraction, manufacturing and supply of coal, gas and oil—employs more than 2 million people in the US by January 2016 (U.S. BLS). In

Pratik Free Essays

Why Was Fathepur Sikri built ? In Akbar’s time the site was occupied by a small village of stonecutters and was the home of Shaikh Salim Chishti, a Muslim astrologer and Sufi Saint. In 1568 Akbar visited the Shaikh to ask for the birth of an heir. The Shaikh replied that an heir would be born soon. We will write a custom essay sample on Pratik or any similar topic only for you Order Now Sure enough, Akbar’s wife gave birth to a boy on August 30, 1569. In gratitude, Akbar named the boy Salim after the astrologer, and, two years later decided to move the capital to Sikri. Buland Daraza ————————————————- Buland Darwazameaning ‘high’ or ‘great’ gate in  Persian. It is located in  Fatehpur Sikri  which is located 43  km away from  Agra,  India. It is also known as the â€Å"Gate of Magnificence. † Buland Darwaza or the loft gateway was built by the great Mughal emperor, Akbar in 1601 A. D. at Fatehpur Sikri. Akbar built the Buland Darwaza to commemorate his victory over Gujarat. 1] Architecture The Buland Darwaza is made of red and buff sandstone, decorated by carving and inlaying of white and black marble and towers above the courtyard of the mosque. The Buland Darwaza is semi octagonal in plan and is topped by pillars and  chhatris  with Buland Darwaiosks on the roof, stylized battlement and small turrets and inlay work of white and black marble. On the outside a long flight of steps sweeps dow n the hill giving the gateway additional height. A Persian inscription on eastern archway of the Buland Darwaza records Akbar’s conquest over Gujarat in 1601. It is 40 metres high and 50 metres from the ground. The total height of the Structure is about 54 metres from the ground level. It is a 15-storied high gateway that guards the southern entrance of the city of Fatehpur Sikri. An inscription on the central face of the Buland Darwaza throws light on Akbar’s religious broad mindedness. How to cite Pratik, Papers

Video Business Model Innovation

Question: Discuss about theVideo for Business Model Innovation. Answer: Introduction: Business Model Innovation Key Ideas of Video The major ideas of this video are totally relate to the business model innovation. In this video, it is illustrated that innovative business model is essential for the success as well as growth of each and every organization. Along with this, with the help of this video, it is also extracted that a business firm must adopt and implement innovative ideas as well as strategies to accomplish the competitive advantages in an effective and a more comprehensive manner. Moreover, it is also observed that, most of the organizations used innovation in order to offer superior services than other competitive business firms. In addition to this, business model innovation is very helpful for the business associations. It is because of it is very simple and does not require new technologies to improve the productivity, profitability, and brand image of the firms in the international market (HSGUniStGallen. 2013). Apart from this, business model innovation only motivates the business associations t o present the existing products as well as services to the customers in a more innovative way. Furthermore, business model innovation offers unique changes as well advantages to each and every organization. At the same time, it is also found out that, innovation plays an important role in order to improve the customer value, to condense the organizational costs, and to build competitive advantages for the growth as well as success of the businesses. Moreover, there are some fallacies linked to business model innovation that are not right. Business organizations must ignore these misconceptions and only focus on business model innovation in order to accomplish desired outcomes and to achieve competitive advantages in an effective and an appropriate manner. Application of Key Ideas It is well known that in todays complex and competitive business environment, most of the organizations has implemented business model innovation in order to achieve competitive advantages in an effective way. In opposite to this, it is also true that most of the organizations are still unaware and do not know the importance of business model innovation for the business organizations. Nokia is a major example of this. So, according to me, Nokia must adopt and implement the major ideas related to business model innovation for the success and growth of the organizations. In recent years, the productivity and profitability of Nokia has been declined rapidly (HSGUniStGallen. 2013). In other words, it can be said that, it has become very difficult to Nokia to stand in front of its competitors such as: Samsung, Apple Inc. and so on. The main reason behind it is that the competitors of Nokia are using innovative strategies to attract new customers and to retain their existing customers in a n effective way. In current, the users of Nokia are unable to enjoy Pokmon Go, Prisma, and so on apps due to lake of innovation. For that reason, I believe that Nokia mustadopt and implement business model innovation to improve the productivity, profitability, and to retain its customers in an effective and a significant manner. Pankaj Ghemawat: CAGE Framework To Evaluate International Trade Opportunities Key Ideas of Video In this video, Pankaj Ghemawat demonstrates the importance of the CAGE framework for the success and growth of the business organizations at the global level. On the basis of the video, it should be noted down that, the CAGE (cultural, administrative, geographic, and economic) framework plays a significant role in order to provide trade opportunities to the business firms. Moreover, it is also extracted that business organizations only need to use the CAGE framework effectively in order to evaluate trade opportunities for the expansion of the business in the global market (Carlson School of Management. 2015). On the other hand, the CAGE framework make out cultural, administrative, geographic and economic distances between nations that business firms must address at what time developing international strategies. Furthermore, the CAGE framework is also valuable in order to comprehend trade patterns, capital, people flows and information of other nations in an effective way. The CAGE fr amework is also helpful to organization in order to recognize and evaluate the impact of distance on the businesses. For that reason, business firms should take help of the CAGE framework to understand the culture as well as economic of other nation and also work accordingly to take advantages of trade opportunities in an appropriate way. The CAGE framework also plays a major role in order to remove trade barriers between nations (Carlson School of Management. 2015). In this way, it is essential that business firm must adopt the CAGE framework in order to evaluate as well as capture trade opportunities in an effective and a more comprehensive manner. Application of Key Ideas It is true that in todays globalized business era, the CAGE framework is important for the business organization. The main reason behind it is that, with the help of the CAGE framework, business organizations would be able to know the cultural, administrative, geographic, and economic difference between nations. For that reason, I believe that Dominos Pizza Enterprises should also take help of the CAGE framework in order to expand its business in the international market in an effective and a more comprehensive manner (Carlson School of Management. 2015). Along with this, the CAGE framework would be beneficial for the firm in order to diminish the geographical distance and also to reduce the cultural as well as trade barriers effectively. In addition, Dominos Pizza Enterprises face a lot of problem when it makes efforts to enter in the marketplace of the other nation. It is because of the economy and culture of that nation creates trade barriers to the firm. In this situation, Domino s Pizza Enterprises must take advantage of the CAGE framework to understand the economy and culture of other nation and to do business in that nation accordingly. As a result, according to me, Dominos Pizza Enterprises must adopt and implement the CAGE framework in order to evaluate trade opportunities and to remove trade barriers for the growth and success of the firm in the global market. References Carlson School of Management (2015). Pankaj Ghemawat: CAGE framework to evaluate international trade opportunities. Available At: https://www.youtube.com/watch?v=7FpUJaG7uMk [Accessed on: 23rd August, 2016] HSGUniStGallen (2013). Business Model Innovation. Available At: https://www.youtube.com/watch?v=B4ZSGQW0UMI [Accessed on: 23rd August, 2016]