1.What is liberty? What does Mill think it is? What do you think? 2.What is Mill’s rationale for the just constraint of human liberty? What unjust reasons does he give? Why is this? 3.What is Mill’s rationale for giving everybody a voice? 4.Give Mill’s explanation of the ‘Wage Fund’. How does it differ from Ricardo? […]
Suppose that two countries called America and China conform to the assumptions of the Ricardian model. The unit labor coefficients for the two countries for producing steel (S) and airplanes (A) are: USLS= 10L/S USLA= 10L/ACLS= 20L/S CLA= 5L/ABoth countries have the same number of workers. a.Based on this information, what is the pattern of […]
There has been much discussion lately regarding raising the minimum wage in many states and the federal minimum wage (President Obama, when in office, stated that he would like the federal minimum wage increased to $9 per hour but we have not seen any movement toward that goal, another proposal to gradually increase the federal […]
