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"Country" ArchivesSome Days You Gotta Dance - The Dixie ChicksJEL: a It was about five 'til five on Friday Some days you gotta dance Full Lyrics · Click to ListenAssignment:While most people think of jobs as good things, economists are more likely to think of them as "bads". After reading the lyrics to this song, can you see why? "Country" Archives40 Hour Week (For A Livin') - AlabamaJEL: j There are people in this country who work hard every day Hello Detroit auto workers, let me thank you for your time Full Lyrics · Click to ListenAssignment:Lots of people want to be entertainers because they place a high value on fame. What effect might placing a positive value on fame have on wages for the average entertainer? Alabama states "the fruits of their labor are worth more than their pay?" Discuss the correctness of this statement from an economic perspective. Your answer should mention the marginal revenue product of labor. "Country" ArchivesRock Island Line - Johnny CashJEL: d Now, this here’s the story about the Rock Island Line Full Lyrics · Click to ListenAssignment:In the song "Rock Island Line," Johnny Cash discusses the transportation of materials through New Orleans. Why do you think they charged different prices for different prices for different types of transported goods? What do we call this practice in economics and why would firms engage in this? Why did it break down in this case? "Country" ArchivesBaby Girl - SugarlandJEL: a dblack top, blue skies big town full of little white lies, Dear Mom and Dad please send money, Full Lyrics · Click to ListenAssignment:This country hit from 2005 highlights the risks associated with venturing out on your own. How credible are the promises of “fancy cars and diamond rings and all sorts of shiny things” when you are new in town? What would make these promises more believable? Who can the singer trust in the song? Why is this trust credible? Use game theory to support your answer. "Country" ArchivesStuff - Diamond RioJEL: a dDelivery truck coming up 'round the bend Stuff (stuff) stack it on stack it on up Full Lyrics · Click to ListenAssignment:How much is enough? This is the question that Diamond Rio asks in Stuff. The singer keeps buying and does not get very much additional utility from the new purchases. What economic theory can be used to explain this? |