American River College slides question

chapter 14

1. In my first numerical example, involving a competitive output market, suppose the going market wage was raised to $40. After that change, what would be the firm’s profit maximizing level of employment in terms of quantity of Labor?

2. In my numerical example involving a union labor market, suppose the union’s market power decreases over time because of changing U.S. labor laws. As a result, the union’s negotiating power now only raises the annual salary by $2,000 more than a non-unionized organization. In that case, what would be the new excess supply of labor?

3. In your own words, write a brief 1 or 2 sentence summary of the chapter 14 lecture videos for our course.

chapter 15

1. In my numerical example involving income assistance, suppose Andi’s labor-leisure preferences are such that she wants to work 1,200 hours per year. In that case, what will be her total income for the year (including government support)?

2. When discussing the U.S. wage distribution, I introduce the concept of “stars.” Who are these “stars” and what makes them different from other market participants?

3. In your own words, write a brief 1 or 2 sentence summary of the chapter 15 lecture videos for our course.

chapter 19

1.Very early in the video coverage of this chapter, I discuss an example in which the United States and Saudi Arabia are each producing barrels of oil and bushels of corn. Suppose market activity in the U.S. economy results in production at C’ (also known as C-prime). How many barrels of oil and bushels of corn is the U.S. economy producing at that point?

2. In my numerical example involving the results of trade for shoes and refrigerators between the United States and Mexico, the United States benefits after the international trade takes place. Compared to the scenario before trade, which good does the U.S. economy get more of, and by how much?

3. In your own words, write a brief 1 or 2 sentence summary of the chapter 19 lecture videos for our course.