ECON 3341 University of California Los Angeles Labour Economics Questions just answer the following question 4 out of 5 and please do not use external reso

ECON 3341 University of California Los Angeles Labour Economics Questions just answer the following question 4 out of 5 and please do not use external resources. Economics 3341 – Labour Economics
Final Examination Version 2
Saturday, April 18th, 2020 (2:00 pm to 6:00 pm)
Answer any four (4) of the following five (5) questions in any order that you wish. If you
submit five (5) questions, the first four (4) answers in order will be marked. The instructor
may clarify a question for you but cannot comment on the quality of your answer. YOU ARE
NOT PERMITTED TO USE ANY ELECTRONIC DEVICE TO GET INFORMATION TO HELP YOU
DURING THE EXAM. YOUR PHONE MAY BE USED TO TAKE A PICTURE OF A GRAPH OR
DIAGRAM WHICH YOU WANT TO INCLUDE IN YOUR ANSWER. You have four (4) hours to
answer four (4) of these questions.
1. There is some concern that immigrants will drive down wages for the unskilled labour market.
Consider the circumstances in the United States. It this true or not true. Be sure to show if the US is
likely to get many low-skill immigrants or not. Be sure to draw the skill wage diagrams for different
countries and the capital-labour diagram with capital-labour isocost and production isoquant curves.
2. What is the typical dispersion of wages and what is the 90/10 percentile ratio? What is the
difference between the mean and median wage? Why do we prefer to use one over the other? Be
sure to draw the distribution diagrams.
3. Explain the concept of “Job Assignment Hierarchies”? Show how this theory creates a wage-skill
curve on a graph with wages on the vertical axis and skills on the horizontal axis. Be sure to draw the
Job Assignment Hierarchies graph.
4. Explain the “Threat Effect” and the “Spill-over Effect”. What factors may limit the spill-over effect.
Make sure you illustrate the effect by using a graph of the unionized and non-unionized labour
markets. They should show the demand and supply curves on two separate graphs with wages on
the vertical axis and labour quantity on the horizontal axis.
5. Explain the importance of “Standardized Comparison” when assessing the degree of wage rate
discrimination. What is the significance of omitted skill variables? Be sure to draw the wage-skill
graphs for males and females.
Good Luck

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