As we have been learning that a labor market is a market inwhich Households supply labor. People in the households allocatetheir time to work for pay or not to work (leisure time). The labormarket supply curve slopes up because the number of people willingand able to work rises as the wage rate rises and because thenumber of hours that each person is willing and able to work risesas the wage rate rises, at least up to some high wage rate.
Please answer the following questions in the light of thematerial we have been learning in module 12. (50 points- 10 pointseach)
1. People immigrate primarily to seek a higher quality ofliving but the question is why immigrate illegally?
2. In less-developed countries, labor is less costly relativeto machinery and equipment, so labor is substituted for what otherinputs?
3. At a high enough wage rate, the person feels that he or shecan afford to take more leisure time. Comment with examples
4. Cite an example, say, of a firm not hiring people olderthan age fifty-five. What kind of segregation it is and is itlegal?
5. Discuss why computer science professors earn more thanEnglish professors, and what comparable worth would mean to eachprofessor’s salary.
