1. Assume you work 40 hrs. per week at a wage rate of $40 per hour. Your employer offers you a choice: stay at 40 hrs. a week at $40 per hour or increase your productivity by working a 75 hour week (15 hrs. per day) at a pay rate of $100 per hour. Tell us about your decision and explain fully why this is your choice. 2. Technology has certainly been a huge contributor to labor productivity and in turn standards of living over the past 30 years. Identify at least 2 negative effects because of increased technology (computers, communication, cell phones, internet, mass production etc.). 3. You are spending quite a bit of money to earn your college degree. Assume that for a 4-year degree you spend $100,000 on your education. That's $100,000 that you could have spent on something else (opportunity cost). At this time, do you feel that this money could have been spent more effectively elsewhere, or do you feel that this $100,000 investment will more than pay for itself over the long run? Explain your answer in detail to give us an idea of your reasoning. 4. When you look at "Eye on Rich and Poor Nations" we can see that there is fairly stagnant growth in the poorer nations such as Eastern Europe, Central and South America, and Africa. Do you feel that we, as the richest nation have a moral obligation to invest capital, labor, and technology in these poorer countries in order to enhance their economic growth in terms of real GDP per person? Explain to us your response