Answered: Over the news, we have seen the exodus…

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: Earnings And Discrimination

Section: Chapter Questions

Problem 1PA

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1. Over the news, we have seen the exodus of unemployed migrant workers. They brought stories of struggles and sorrows on the future of their families. Most of the returning Overseas Foreign Workers (OFW) are the bread-winners of their families. Now they are unemployed they have to tighten their belts to make both ends meet. However, we have not heard much about the senior citizens who are the more vulnerable sector of society. With prices going up and a general advisory for them to refrain from going outside their quality of life is deteriorating. Therefore discuss what are the economic impacts of the current situation that posed problems/challenges to senior citizens.

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