The Economics Of Macro Issues 5th Edition Roger LeRoy Miller ,Daniel K. Benjamin - Solutions

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Give some specific examples of how employers statistically discriminate in hiring and promotion decisions. Besides interviewing employers, how else could a researcher discern the existence of statistical discrimination?
How does the example of deregulation of motor bus travel, on Greyhound, for example, support Becker's hypothesis that increased competition reduces the wage gap? After deregulation, was the motor bus industry truly competitive? How might a lack of competition affect the persuasiveness of the Becker
Becker assumes that discriminating employers pay a wage premium(higher than market wage) to white males. Other theories argue that discrimination depresses or lowers the wages of women and racialethnic minorities. Which assumption makes more sense to you? Does it matter?
What roles do education (including skill) and experience play in determining relative wages by gender and race-ethnicity? Would investing in college or graduate school and getting good grades eliminate the gender- or race-based wage gap? Would choosing a college major and career in the sciences
What roles do biology and individual choices play in labor force participation, employment, and wage setting? Do you think that men's and women's labor market decisions are biologically determined, or does discrimination exist? Explain.
"Do the Q." For this exercise, you will gather and compare longitudinal (time-series) data on several important indicators. One of the major internet sites to begin a search for national data is called"FedStats," the gateway to statistics from over 100 U.S. federal agencies. At the FedStats web
Do a short attitudinal survey of your peers to find out how much housework and child care they will be demanding of their spouses or partners. Construct your questions to parallel the possible responses in Table 11.1 of Ferber and Young's chapter. Be sure to code each survey for the sex of the
How might a feminist or institutionalist model of the household or household behavior differ from a traditional or neoclassical economic framework?
Using Wheelock and Oughton's definition of a household, who is in your household? Is it the same as your family (or kin)? What are some of the diverse household structures among people you know?
What would you consider to be a fair distribution of household labor for different types of households or families?
Who does the housework and other aspects of social reproduction?Has this varied over time? Does it vary by age, marital status, class, or race-ethnicity? Does the division of labor in the home differ in gay and lesbian households? How would you determine this?
Why is "caring" an economic activity? Would caring change if it were motivated by the pursuit of profit, and, if so, how?
Why is Barbara Bergmann's argument about the risks of specializing in housework still relevant today?
What are some of the arguments made both for and against paying for housework and child care?
The wage gap can be costly to women over the course of their work lives. The AFL-CIO's Working Women Department, in conjunction with the Institute for Women's Policy Research, has developed a statistical program to calculate how much the pay gap would cost over a lifetime of work. The formula is
"Do the Q." When you see a percentage in a table, can you discern what was measured to calculate the percentage? Recall that percentages are derived from fractions, dividing the numerator by the denominator and multiplying by 100.In the chapter by Cohen and Bianchi, it is crucial to notice whether
Interview some women who graduated from high school or college after 1980. How have they attempted to reconcile their paid work and family life? Compare and contrast your findings with the women in earlier cohorts studied by Claudia Goldin.
"Do the Q." In the article by Rau and Wazienski, Table 5.3 shows the curvilinear (or U-shaped) relationship between the degree of industrialization (industrial decile) and female labor force participation. To see this relationship graphically, copy the table into a spreadsheet program such as
Rau and Wazienski deliberately chose only data from 1960 and 1970, rather'than later years. Why? Do you think that the U-hypothesis would still hold true in a newly developing country today? Discuss.
How has women's paid work been affected by race-ethnicity, marital status, the presence of children, and the age of their children?What implications do these trends hold for single mothers?
How did women from different "cohorts" in the twentieth century balance work/career and family? Were they able to have both simultaneously, or did they make sacrifices? Explain.
How did both labor unions (fraternalism) and management (Henry Ford) in the automobile industry maintain and redefine masculinity at work? What role did technology play in gender relations?
Why have industrialization and mass-production manufacturing traditionally been a male domain? Compare and contrast the explanations offered in two chapters: (a) Rau and Wazienski; and (b)Lewchuk.
Based on the readings, why does women's labor force participation have a V-shape as industrialization occurs? What forces inhibit women's involvement in paid employment? Vsing the V.S. experience, what factors contribute to the rising part of the V? Discuss supply vs. demand and push vs. pull
What are some empirical concerns for those interested in a feminist approach to the economy?
How does a feminist analysis expand the notion of what counts as"economic" or "economic activity"?
If students and scholars are concerned about the economic status of women, how would attention to class and race-ethnicity add strength to their analyses? Give one or two examples on specific topics.
What are some major questions and issues that would be addressed by studying the economy from a feminist perspective? How do these differ from more traditional perspectives?
From shortly after World War II to the early 1970s, the United States (like many countries) was on a system of fixed exchange rates. That is, the U.S. government pledged to take whatever actions were necessary to keep the value of the dollar fixed relative to other currencies. Consider the
Sometimes national governments decide that they don’t want their currencies to be any lower in value than they currently are. Explain how, if a country wants to raise the value of its currency in foreign exchange markets, it might use the following tools to do so:(a) Altering the rate of growth
In an effort to discourage drug smugglers from using U.S. currency in major drug deals, the U.S. government refuses to issue currency in denominations greater than $100. How does this policy decision affect the demand for dollars and thus the exchange rate between the dollar and other currencies,
Although the United Kingdom is a member of the EU, it does not use the euro as its monetary unit. Instead it uses the pound sterling.If the United Kingdom decided to switch from the pound to the euro, how might this decision affect the value of the euro in foreign exchange markets?
Some politicians express concern about our trade deficit with specific nations. For example, twenty years ago they worried about our trade deficit with Japan. More recently they have expressed concern over our trade deficit with China. Is there any reason to believe that a trade deficit with any
In the three decades after World War II, Europe rebuilt from the war by borrowing from the United States and also by running a trade deficit with us. What would have happened to the rebuilding effort if European politicians had sought to reduce their trade deficit with the United States by imposing
What would have been the likely consequences for the development of the American economy between the Civil War and World War I if Congress has sought to reduce imports by, say, imposing high import tariffs? Explain.
Does it matter to you where the product you are buying has been manufactured? Why or why not?
How does the concept of “buy local” relate to concerns about trade deficits on an international basis?
Why can’t competing producers in different states prevent “imports”into their own state? ( Hint: To what document written over two hundred years ago are the states still subject?)
What motivates politicians to impose trade restrictions?
Some U.S. policy is designed to subsidize exports and thus increase employment in export industries. What effect does such policy have on our imports of foreign goods and thus on employment in industries that compete with imports?
When you go shopping for a new computer, is your real objective to “import” a computer into your apartment, or is it to “export” cash from your wallet? What does this tell you about the true object of international trade—is it imports or exports?
Who gains and who loses from import restrictions? In answering, you should consider both consumers and producers in both the country that imposes the restrictions and in the other countries affected by them. Also, be sure to take into account the effects of import restrictions on export industries.
Most U.S. imports and exports travel through our seaports at some point. How do you predict that members of Congress from coastal states would vote on proposals to restrict international trade?What other information would you want to know in making such a prediction?
If it would be cheaper to give each steelworker $375,000 per year in cash than impose restrictions on steel imports, why do we have the import restrictions rather than the cash payments?
Who bears the costs and enjoys the benefits of the subsidies mentioned in the previous question?
The U.S. government subsidizes the export of U.S.-manufactured commercial aircraft. What effect do you think this policy has on American imports of foreign goods and American exports of products other than commercial aircraft? Explain.
During the late 1980s and early 1990s, American automobile manufacturers greatly increased the quality of the cars they produced relative to the quality of the cars produced in other nations. What effect do you think this had on American imports of Japanese cars, Japanese imports of American cars,
Keeping in mind the key propositions of globalization outlined in this chapter, what is the likely impact of international trade restrictions on the following variables in the United States: employment, the unemployment rate, real GDP , and the price level ? Explain your responses.
Until a few years ago, U.S. cars exported to Japan had the driver controls on the left side (as in the United States). The Japanese, however, drive on the left side of the road, so Japanese cars sold in Japan have the driver controls on the right side. Suppose the Japanese tried to sell their cars
For a number of years, Japanese automakers voluntarily limited the number of cars they exported to the United States. What effect do you think this had on Japanese imports of U.S. cars and U.S. exports of goods and services other than automobiles?
The new limits on credit cards were imposed at a time that interest rates throughout the economy were at record-low levels. What will happen to the magnitude of the adverse effects of these limits as interest rates rise generally? Be explicit. Consider all of the adverse effects mentioned in this
If government-imposed limits on interest rates are such a good idea, why not just make it illegal to charge any interest on all loans? What would be the consequences of such a policy?
Why would a limit on interest rates on old credit card balances reduce the incentive of firms to issue new cards?
More than 65,000 individuals and businesses submitted comments on the Fed’s regulations when they were first proposed. How might a look at these comments (which are a matter of public record) help you identify individuals and businesses who are likely to gain or lose as a result of the
What do controls on interest rates do to the incentive of consumers to lie on their credit applications in an effort to qualify for a credit card?
Why do you suppose the government regulates interest rates on consumer credit (as with credit cards) but generally does not do so with commercial credit (as with loans to businesses)?
Why doesn’t the federal government offer automobile accident insurance?
How would the chance of a major economic depression change if federal deposit insurance were eliminated?
Why doesn’t the federal government fully price bank failure risks?
Explain how “experience rating” of insurance—charging higher premiums to higher-risk customers—affects the incidence of both adverse selection and moral hazard.
In a world without deposit insurance, what are some of the mechanisms that would arise to “punish” bank managers who acted irresponsibly? ( Hint: There are similar types of mechanisms for consumer goods and in the stock market.)
If federal deposit insurance costs nothing, who pays when an insured depository institution fails and its depositors are nonetheless reimbursed for the full amount of their deposits?
Why have banks been so reluctant to loan funds to businesses in recent years?
Why did excess reserves increase so much in recent years?
Is there any risk to the Fed in holding mortgage-backed securities and debt issued by Fannie Mae and Freddie Mac? If so, what is it?
When the Fed buys U.S. government securities, how does it pay for them?
Was the Fed justified in targeting specific sectors of the economy during the financial panic of 2008? Why or why not?
Why do increases in the money supply in circulation ultimately lead to inflation?
The Fed was given great power in 1913 to undertake potentially beneficial actions. Did this also give it great power to engage in potentially harmful actions? Explain why or why not.
In the long run, if the Fed fails to remove the excess reserves from the banking system, what will the banks do with them? What are the implications for inflation? Explain.
By late 2010 concerns over bank solvency had faded. How did this change likely alter the incentives of banks to lend out excess reserves?What are the implications for aggregate demand? Explain.
If the Fed had not injected reserves into the banking system in 2008, what would have been the consequences for the banks and for aggregate demand ?
If the Fed continued to pay interest on required reserves but stopped paying interest on excess reserves, how would bank lending incentives be changed?
How did the Fed’s long-standing policy of not paying interest on bank reserves act much like a tax on bank reserves?
What does the existence of the Social Security system do to the incentive of a worker to save for his or her retirement? What does it do to the worker’s incentive to save to provide an inheritance for his or her children? Explain.
Additional retirement delays do not cause benefits to rise any further.) How is the incentive to retire prior to age 70 affected by this provision for benefit increments, relative to a system in which benefits were not raised in this manner? Explain.
For each year after full retirement age that a person delays collecting Social Security benefits, the annual benefits are raised by 8 percent.(This “bump” in benefits ceases at age
If a person starts collecting Social Security benefits before full retirement age but also continues to work, then for each $2 in income earned (above a modest level), that person’s benefits are reduced by$1.What is the effective marginal tax rate imposed by the Social Security system on such
Analyze how each of the following hypothetical policy changes would affect people’s decision to retire. Would the change induce people to retire sooner or later? Explain your reasoning.(a) An increase in the age at which one can receive full Social Security benefi ts (currently age 66 to 67,
People over the age of 65 have been highly successful in protecting and enhancing the real benefits they receive from Social Security. This has come at the expense of other people in society, particularly young people. What do you think explains the ability of older people to win political battles
Where has all of the Social Security money gone?
Most states have laws or constitutional provisions that require them to quickly eliminate any budget deficits by either raising taxes or cutting spending. Can you suggest why states would have this rule but the federal government would not?
Why do most politicians love to spend money and hate to pay for their expenditures? Is this attitude different from the one you have toward making purchases as opposed to paying for those purchases?What are the consequences for you if you spend more than your income?
Who, exactly, will be paying the higher future taxes implied by the stimulus packages, tax cuts, and bailouts of 2008–2010?( Hint: Look in the mirror.)
Is it possible that in, say, ten years, the real tax rate paid by U.S.residents will be lower than it is today? What circumstances would have to change to make this occur? Explain.
If you are a lower-income-earning individual and thus pay no income taxes, should you care about tax increases for other individuals?Explain.
The government now owns shares of stock and warrants in many banks, insurance companies, some auto companies, and other sectors of the economy. (Warrants are rights to own future shares of stock.) If the value of the shares owned by the federal government increases because the market price per
In the private sector, one in five workers have been promised lifetime pensions. In the public sector, four in five workers have lifetime pensions. Why does the private sector offer so few lifetime pensions compared to the public sector?
The grim economic climate since 2008 has caused many workers to defer their retirements. How will this affect large employers in state and local governments?
Why can’t state and local governments simply continue to borrow funds through the bond market to cover not only shortfalls in current tax revenues but also shortfalls in future available funding to pay contractual pension benefits?
Many state and local governments have been using an assumed 8 percent rate of return figure when calculating future funding of promised pension benefits. Why do you suppose they used this rather than an assumption of 2 percent, or even 0 percent?
Why would a state or local government ever commit more resources for future pension benefits than it could possibly have resources to pay?
If there is no government- or company-provided pension system, how can an individual create a financially safe retirement?
Is there any way to stop creative destruction?
What is the incentive that private companies have to “pick winners”?
Outline the scenario of what would have happened to GM had the federal government allowed it to go bankrupt on its own several years ago?
Estimated U.S. taxpayer subsidies in green energy technology through 2013 are about $125 billion. Under what circumstances does the federal government need to undertake these subsidies as opposed to letting private companies themselves pay for such investments?
Why do you think politicians are more active creating industrial policies during recessions than during boom times?
Who benefits and who loses from our “too-big-to-fail” policies?
Given the huge losses incurred by Fannie and Freddie as a result of“rolling the dice,” why do you suppose Congressman Barney Frank hasn’t been voted out of office?

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