. What is the price of labor? Which decision-makers constitute the demand curve for labor? Which decision-makers constitute the supply curve? . . . What is the slope of the demand curve for labor, and what assumption does this depict? What is the slope of the supply curve for labor, and what assumption does this depict? Can you think of an example of some workers who might violate this assumption? What happens in the labor market in Hawaii if all else equal, more companies open up in downtown Waikiki? . What will happen to the wages of workers if all else equal, college tuition is made free and subsequently more people go to college and graduate with a college degree? Suppose the university passes a policy that class sizes at UH must be no larger than 25 students per class. What will happen in the labor market for instructors? How might this affect other (labor) markets? Consider the labor market for flight attendants. Suppose a new technology is introduced where robots are capable of doing many of the things a flight attendant can do. What will happen in the labor market for flight attendants? How might other (labor) markets be affected? What might be the net effect on society (in terms of wages)? Suppose the price of rubber drops, all else equal. Consequently, tires, which are an input into the production of cars, are now cheaper. What will happen in the labor market for car manufacturers? What will happen in the market for cars?| Suppose the government introduces a free program for wheat farmers to become fancy chefs. What will happen in the labor market for wheat farmers? What will happen in the labor market for fancy chefs? What will happen in the market for wheat? What will happen in the market for fancy restaurants? Now suppose wheat is an input into the production of bread. What will happen in the market for bread? Now suppose bread is an input into the production of "fancy meals" (restaurants must serve bread): What will happen in the market for fancy restaurants? As a consumer who only cares about fancy restaurants, are you happy with this government program? What if you were a consumer who only cared about bread? Suppose President Trump imposes a ban on all immigration into Hawaii. If all workers are identical, what will happen in the labor market in Hawaii? What will happen to the prices of goods in markets where immigrants serve as workers? If you're a local worker on the island, why might you like this policy? Why might you dislike it? Now suppose the only type of immigrant coming into Hawaii are professors, and President Trump imposes a ban on immigrants. First, what happens in the local labor market for professors? How might this affect the supply of education? What subsequently happens to tuition costs? How might non-professors feel about this policy? Consider the labor market for cashiers in Hawaii. Suppose the equilibrium wage in the market is $10. Now suppose Hawaii passes a $15 minimum wage. What happens in the labor market for cashiers? Are cashiers helped or harmed by this policy? Support your argument graphically by highlighting "producer surplus". What about stores, are they benefitted or harmed by this policy? Support your argument graphically by highlighting "consumer surplus". If the government cared equally about cashiers and stores, was this a smart policy to pass? What rationale (within the model) might the government have for passing this minimum wage? Most challenging question: Now let's suppose that after passing the $15 minimum wage, the government initiates a program that gives free self-checkout robots to stores. How will this affect the labor market for cashiers in terms of wages and unemployment? Are cashiers happy with this program? What happens in the labor market for engineers (who are needed to maintain the self-checkout robots)