One of the limiting resources in our economy is time. As a society, we make choices about the allocation of time between work and other pursuits. In the US, most workers are eligible for overtime pay if they work more than 40 hours a week, whereas most European workers become eligible at 35 hours per week. In addition, workers in Europe have guaranteed vacation time-- five weeks in France-- a benefit not available in the US. As a result the typical US worker puts in about 2000 hours per year compared to 1700 hours per year in France and Germany.
Should US laws be changed to require a shorter work week and longer vacation time?
For each side of the question list three strong arguments. Use the following concepts from the chapter at least once.
Production possibilities curve
Economic growth
Market mechanism
Market failure
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