1. Suppose that the federal government passed a new law in the U.S. that restricted workers from working over 6 hrs. a day. What would be the ramifications within the labor market? Graph this change.
2. Traveling by airplane is becoming more and more an activity that Americans partake of. Suppose that the demand for travel routes worldwide increased in the year of 2006. This would obviouslyrequire more pilots, stewardesses, and others that facilitate the air-travel experience. However, suppose at the same time that several of the major airlines experienced a shortage of pilots dueto a strike. What would be the effects on wages within this market?
3. Following the same argument from the previous question, what would be the effects on the amount of workers present within the market?
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