Principles of Macroeconomics Read the case “The Minimum Wage” from Chapter 6 “Supply, Demand, and Government Policies” Page: – 117 given in your textbook – “Principles of Macroeconomics”. A case study discusses the federal minimum-wage law. Questions: 1 Suppose the minimum wage is above the equilibrium wage in the market for unskilled labor. Using a […]
Consider the Burdett-Mortensen model of on-the-job search studied in lectures and if the assumption of on-the-job search is removed, then it is not possible to write a correct equal profits condition.
Labour economics Answer the following question. Question 1 Are the statements in the paragraph below correct or incorrect? Explain. The answer must include one mathematical expression, and not more than one. “Consider the Burdett-Mortensen model of on-the-job search studied in lectures. If the assumption of on-the-job search is removed, then it is not possible to […]