Reasons for rising income inequality in the United States

Read the following questions and answer the question in 2-4 paragraphs while using information provided in the Textbook. Make reference exactly where you’re getting your information.

1. Explain the reasons for rising income inequality in the United States. If there are arguments countering a reason, explain these arguments as well. (CHAPTER 7)

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2. Long-answer Q from (Chapter 12) (Unemployment)

Q. 12-15. Consider the standard job search model as described in the text.

(a) Why are the asking wage and expected unemployment duration positively related?

(b) Can the standard job search model explain why unemployment duration is longer, on average, for secondary workers when compared to primary workers? Discuss.

(c) In the context of the standard search model, explain how the economy-wide average asking wage and unemployment duration are affected by an expanded underground (cash) economy. What is the effect on the equilibrium unemployment rate?

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