– 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.
- 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.
- How might migration of new workers to Omaha change wage differentials between mentioned two cities?
- 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journal articles although the textbook is an acceptable source (however, keep in mind that the textbook is not peer-reviewed resource though).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)