05 Feb 6) Describe what a positive

Microeconomics

Short Answer. 7 of the following 9 questions

1) Labor unions have played a major role in changing the working landscape of the United States labor environment. Why were labor unions created and what has the government done to address the issues that led to the creation of unions?

2) We have experienced discrimination in our work force. What is meant by a glass ceiling? Throughout the history of the U.S. there has been a steady stream of immigrants entering our work force. What is the problems that are associated with undocumented workers and are they just (why or why not)?

3) What are indifference curves and how do they relate to a budget line? Draw a graph showing 3 indifference curves and a budget line. Why is one indifference curve tangent to the budget line? What happens if the price of one good changes?

4) The demographics of the work force has changed. Discuss the impact of women joining the workforce (changes in education, maternity and traditional role of woman from stay home parent to two income households). What are the positives and negatives of undocumented workers on the ec
6) Describe what a positive onomy?

5) What do excludable and rival mean in the context of describing the four types of goods we discussed in class? Give examples of each type of good and show how they are rival, nonrival, excludable or nonexcludable.

6) Describe what a positive and negative externality is. Give examples of each type. What are the private and external costs of production? Show the effect on a supply and demand curve of a negative externality.

7) What does the term “Asymmetric Information” mean? What is a moral hazard and what are the two groups involved? Give an example. What is meant by adverse selection? Who is