120 110 &&&RSRSR22. 100 90 80 20 10,000 20,000 30,000 40,000 50,000 60,000 70,000 000'08 Consider the information in the file named Hypothetical Labor Market Graph. The graph shows the aggregate demand for labor in a small country with a civilian population of 100,000 persons. The labor force participation rate in this country is only 30% and it does not depend on the level of real wage. Wages and prices are fully flexible downwards and upwards. Start from the base case. Suppose that due to changes in social norms, the participation rate of women in the labor force increases. As a result, the overall labor force participation rate increases to 50.00% Ceteris paribus, this event causes the equilibrium real wage to change to units.

120 110 &&&RSRSR22. 100 90 80 20 10,000 20,000 30,000 40,000 50,000 60,000 70,000 000'08 Consider the information in the file named Hypothetical Labor Market Graph. The graph shows the aggregate demand for labor in a small country with a civilian population of 100,000 persons. The labor force participation rate in this country is only 30% and it does not depend on the level of real wage. Wages and prices are fully flexible downwards and upwards. Start from the base case. Suppose that due to changes in social norms, the participation rate of women in the labor force increases. As a result, the overall labor force participation rate increases to 50.00% Ceteris paribus, this event causes the equilibrium real wage to change to units.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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