ALLIED ECN150 MODULE 7 HOMEWORK ASSIGNMENT

Welcome to the Module 7 Homework Assignment for ECN 150: Introduction to Microeconomics.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.Running head: [INSERT
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Student
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Allied
American University

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Note
This
paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught
by [INSERT INSTRUCTOR’S NAME].

PART
I

Directions:
Please
answer each of the following questions, writing a paragraph for each. Explain your thoughts with theory and
examples where applicable.

1. A
recent flood in the Midwest has destroyed much of the farmland that lies in
fertile regions near the rivers.
Describe the effect of the flood on the marginal productivity of land,
labor, and capital. How would the flood
affect the price of inputs? Provide some
examples.

2. A
recent study of the determinants of wages for clerical staff at a state
university found that years of schooling, years of experience, age and job
characteristics only explained about one-half of the difference in wages. Describe other factors that may be important
in explaining wages differences for clerical staff.

3. After
graduating from college, you receive job offers from five different accounting
firms. All job offers have a different
compensation package. Is it irrational
for you to accept an offer that doesn’t provide the highest level of monetary
compensation? Use the concept of
compensating differentials to explain your answer.

4. List
the productivity factors that may explain the differences in pay between men
and women in similar occupations. Do any
of these factors arise as a result of cultural or social traditions? If so, describe how changes in social
relationships will affect the pay gap over time.

5. Explain
the role that consumers play in perpetuating discrimination in labor markets.

6. Outline
the possible work disincentives created by anti-poverty programs. Is there a way to solve this problem without
causing other forms of inefficiency to arise?
Explain your answer.

7. What
are the primary price inputs in the microeconomic market?

PART
II

After
watching Krugman’s video this week, do you concur with the assessment that
growing income inequality threatens the middle class? Identify a competing argument, paper, and
theorist. Who is the most qualified
voice that dissents from Krugman’s thesis?
Write a two page position paper and cite at least two peer-reviewed
sources. Please utilize LIRN to help you
get started with your search. You may
visit the Academic Resource Center for a guide on how to utilize LIRN
successfully.

PART III: Reflection Essay

Write a one page paper on what you found most useful in this
module. What was the biggest take-away
lesson you learned and how do you see firms applying the topic to decision
making in a microeconomic methodology?