Some economists believe that new videogames have made leisure time a lot more fun. What might this do to the labor market for young people? both equilibrium wages and equilibrium employment to decrease. а. both equilibrium wages and equilibrium employment to b. increase. equilibrium wages to decrease and equilibrium employment to C. increase. equilibrium wages to increase and equilibrium employment to d. decrease.

Some economists believe that new videogames have made leisure time a lot more fun. What might this do to the labor market for young people? both equilibrium wages and equilibrium employment to decrease. а. both equilibrium wages and equilibrium employment to b. increase. equilibrium wages to decrease and equilibrium employment to C. increase. equilibrium wages to increase and equilibrium employment to d. decrease.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The equilibrium quantity of labor increases and the equilibrium wage decreases when: A) labor supply shifts to the right, if wages are flexible, B) labor supply shifts to the left, if wages are flexible. C) labor demand shifts to the left, if wages are flexible. D) labor demand shifts to the right, if wages are flexible.
Suppose Taco Hut currently doesn't offer its employees any health insurance. However, the government is passing legislation to require firms to provide health insurance coverage. Providing such coverage will cost Taco Hut $2 per worker hour, and the workers value this coverage at $3 per worker hour. How will the legislation affect the equilibrium wage and level of employment at Taco Hut? a.Wages will fall, employment will increase b. Wages will stay the same, employment will fall c.Wages will fall, employment will fall d.Wages will increase, employment will increase
If you observed the equilibrium wage rate increasing while equilibrium employment increased, which of the following would be a possible explanation? There was: O a decrease in labor demand an increase in labor supply O a decrease in labor supply an increase in labor demand * Previous Next ASUS
Economics: Labor Economics Question: 1 Labor demand and supply of a market are given by w = 32 - 5Ed and w = 4 + 2Es. Please show work for each part. a.What is the equilibrium employment in this market? [a] b.What is the equilibrium wage in this market? [b] Question: 2 The marketplace is currently in equilibrium as indicated by the tangency condition shown below. Assume capital and labor are substitutes. Suppose technological improvements increase the productivity of capital but have no effect on the productivity of labor. In terms of its use of capital and labor what would you expect firms to do to re-establish equilibrium? (MPe/W) = (MPk/r) Thank you for your help and support Instructor Agent!
Look at the graph below. Labor demand falls from D0 to D1 due to an economic recession. What is the resulting wage in the short-run due to this shift in demand? HINT: Consider whether this is a situation in which the wages are sticky or flexible. Wage Rate 40 35 30 25 20 15 10 5 0 5 10 15 20 25 30 Quantity of Labor D1 35 40 DO
Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas will The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will . The temporary unemployment resulting from such sectoral shifts in the economy is best described as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. O Improving a widely used job-search website so that it matches workers to job vacancies more effectively O Offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeks O Increasing the benefits offered to unemployed workers through the government's unemployment insurance program
13. Identify which way the labor supply curve would shift under the following scenarios. A country experiences a huge influx of immigrants who are skilled in the textile industry. Wages increase in an industry that requires similar job skills. New machines require additional maintenance over time, so that the marginal productivity of labor rises.
The deskilling of jobs is promoted by O the introduction of new products O the introduction of a detailed division of labor O the expansion of trade O the introduction of anti-union regulations D Question 4 Between 1997 and 2016, average carpenter state employment fell by half O fell by 20% due to the Great Recession was about the same O almost doubled
The Suppose the world price of tobacco falls significantly. The demand for labor among tobacco-producing firms in Kentucky will demand for labor among cigarette manufacturing firms in Virginia, which use tobacco as an input, will The temporary unemployment that results from sectoral shifts such as the ones describes above is best categorized as unemployment. Suppose the government wants to reduce this type of unemployment. Which of the following policies would help achieve this goal? Check all that apply. Offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeks Increasing the benefits offered to unemployed workers through the government's unemployment insurance program Establishing government-run employment agencies to connect unemployed workers to job vacancies
Q1). Suppose the labor market is initially at its equilibrium, i.e., the labor supplied equals the labor demanded. Now suppose IBM develops a new computer chip that makes computer incredibly faster. Explain and show graphically how the arrival of a new, more productive technology affects the labor market. Draw the full graph and provide a detailed explanation of the effect. Label the axes/curves, explain why either the aggregate labor demand curve or the aggregate labor supply curve shifts and describe the economic mechanism that moves the economy from the old to the new equilibrium.
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Assume that the labour demand equation for a fictional country is L = 90 – 2(w), where w is the wage per hour worked. Also, assume that the labour supply equation for that country is Ls = 0.5(w). Instructions: Round your answers to the nearest whole number. a. The equilibrium wage is $ , and the equilibrium quantity of labour employed is workers. b. At the equilibrium wage, | people are unemployed. c. If the supply of workers increased, the number of unemployed would: O stay the same as long as the wage is free to quickly adjust. O decrease. O increase.