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S00 $2,400 $2,200 $2,000 $1,00 $1.600 $1,400 $1,200 $1,000 Monthly Wage Rate

S00 $2,400 $2,200 $2,000 $1,00 $1.600 $1,400 $1,200 $1,000 Monthly Wage Rate

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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$2,600 $2,400 $2,200 $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 S800 D $600 $400 $200 1,000 2,000 3,000 4,000 5,000 6,000 7,000 1,000 9,000 Labor (Persons) Consider the information in the file named Labor Market 1, also shown above. Assume that the supply-of-labor numbers in that file pertain to native-born workers. In other words, currently, there are no immigrants in the country. Now suppose that the government opens its international borders and accepts 3,000 foreign-born workers into the country. Assume further that all of these immigrant workers find jobs and become employed. Finally, assume that the immigrant workers are of the same skills as the native born workers. Continue assuming that the number of foreign-born workers will be constant at 3,000 and they will all be employed under all scenarios. This is not a totally realistic assumption, but it will make our calculations less cumbersome. This could be a. realistic description of situations in which the domestic country enters into contract with a foreign country to secure jobs for foreign guest workers. After the entry of the immigrant workers: Equilibrium wage rate = dollars per month per person. Number of natives employed% = persons. %3D Capital income = dollars. Total labor income = dollars, of which: Native labor income- dollars. Immigrant income= dollars. Monthly Wage Rate (W)
Transcribed Image Text:$2,600 $2,400 $2,200 $2,000 $1,800 $1,600 $1,400 $1,200 $1,000 S800 D $600 $400 $200 1,000 2,000 3,000 4,000 5,000 6,000 7,000 1,000 9,000 Labor (Persons) Consider the information in the file named Labor Market 1, also shown above. Assume that the supply-of-labor numbers in that file pertain to native-born workers. In other words, currently, there are no immigrants in the country. Now suppose that the government opens its international borders and accepts 3,000 foreign-born workers into the country. Assume further that all of these immigrant workers find jobs and become employed. Finally, assume that the immigrant workers are of the same skills as the native born workers. Continue assuming that the number of foreign-born workers will be constant at 3,000 and they will all be employed under all scenarios. This is not a totally realistic assumption, but it will make our calculations less cumbersome. This could be a. realistic description of situations in which the domestic country enters into contract with a foreign country to secure jobs for foreign guest workers. After the entry of the immigrant workers: Equilibrium wage rate = dollars per month per person. Number of natives employed% = persons. %3D Capital income = dollars. Total labor income = dollars, of which: Native labor income- dollars. Immigrant income= dollars. Monthly Wage Rate (W)
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