Applications and Policy Issues/ Wages, workers and management

– Hypothetical scenario

 

Suppose that there are two cities – Chicago, IL and Omaha, NE. Economists report that wages in Chicago is 40% higher than those in Omaha. Develop a two-page essay discussing what might have caused this. In your essay, you are required to address the following questions.

 

  1. What factors led to higher wage in Chicago than in Omaha? Discuss this from an economic perspective, and do not just share your opinions/thoughts.
  2. How might migration of new workers to Omaha change wage differentials between mentioned two cities?
  3. Can wage differentials be justified from a biblical perspective? (This should not exceed 100 words)

 

 

The short essay must comprise the following structures with sections and headings:

Section 1: Wage Differentials between Chicago and Omaha

Section 2: The Role of Migration

Section 3: Biblical Application

 

Please note that I will not review your actual essay before your final submission. 

– All papers must use a minimum of 3 sources. You must cite only peer-reviewed journal articles although the textbook is an acceptable source (however, keep in mind that the textbook is not peer-reviewed resource though).

– You MUST NOT cite online sources or any articles without year of publication and author’s name. Also, you should not cite Wikipedia and investopedia.

– All papers must follow all APA requirements. (I am only looking for accuracy of APA formatting for references)

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