What is a compensating differential? Give an example. Define economic discrimination. Is the fact that one group in the population has higher earnings than other groups evidence of economic discrimination? Briefly explain.

In what sense do employers who discriminate pay an economic penalty? Is this penalty enough to eliminate discrimination? Briefly explain. Is the fraction of U.S. workers in labor unions larger or smaller than in other countries?

Key points to note: Get a research diary/journal which you will use to write your weekly reflections on your research process as well as any take home tasks we give you during the seminars. This can be a regular note book but it must be used solely for your research unit. This week we are

According to the Football Observatory Eden Hazard (Chelsea) is more valuable than Ballon d’Or winner, Cristiano Ronaldo (Real Madrid). Do you think that a player’s value depends on the teams that are interested in signing him? Briefly explain.

In the BLS household survey, people on active military service are not included in the totals for employment, the labor force, or the working-age population. Suppose the BLS included the military in these categories. How would the unemployment rate, the labor force participation rate, and the employment–population ratio change?

Fill in the blank cells in the following table of data collected in the household survey for June 2015:

  What is the relationship between frictional unemployment and job search? What is the natural rate of unemployment? What is the relationship between the natural rate of unemployment and full employment?

Briefly explain whether you agree with the following statement:“I don’t believe the government price statistics. The CPI for 2014 was 237, but I know that the inflation rate couldn’t have been as high as 137 percent in 2014.”

What is the difference between a nominal variable and areal variable? During a period of deflation, which is likely to increase faster: nominal average hourly earnings or real average hourly earnings? Briefly explain.

Suppose that you need to calculate the percentage increase in real GDP in a certain country between year t-10 and year t-6. Use the data contained in the following table and comment on the magnitude of the resulting growth rate: