Microeconomics,, 16th Canadian Edition

Study Exercises 320

Chapter 14 Labour Markets and Income Inequality 324

14. 1 Wage Differentials 326
    Wage Differentials in Competitive Labour Markets 326
    Wage Differentials in Non-competitive Labour Markets 330
    Legislated Minimum Wages 333


15. 2 Labour Unions 335
    Collective Bargaining 336


16. 3 Income Inequality 339
    Measuring Income Inequality 339
    Causes of Rising Income Inequality 343
    Policy Implications 347
    Summary 349
    Key Concepts 349
    Study Exercises 349

Chapter 15 Interest Rates and the Capital Market 354

15. 1 A Brief Overview of the Capital Market 355


16. 2 Present Value 356
    The Present Value of a Single Future Sum 357
    The Present Value of a Stream of Future Sums 359

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