economics response 1
Read the following article and answer the questions below.
- Surowiecki mentions 3 possible explanations for the difference in the hours worked by Americans and Europeans. What are they? Which one is favored by the author and why?
- Which of the above 3 explanations do you find most convincing and why?
- If the marginal tax rate you pay on the next dollar you earn was increased by say 10% what impact (if any) would it have on the amount of hours YOU would work? Why?
- What are the benefits and costs of the American situation? (i.e. more work, less leisure) Of the European situation? (i.e. less work, more leisure)
- Which one of the two ways do you find more attractive and why?