Suppose that the United States cracks down on illegal immigrants and returns millions of workers to their home countries.Real wage rate (2012 dollars per hour)80-Draw a labor supply curve and a labor demand curve for the United States. Label the curves LSo and LD.Draw a point to show the equilibrium quantity of labor and the equilibrium real wage rate. Label it 1.70-Now suppose the United States returns millions of illegal immigrant workers to their home countries.Draw and label a curve that shows the effect of this return of workers.60-Draw a point to show the new equilibrium quantity of labor and the equilibrium real wage rate. Label it 2.50-40-30-20-10-100200300400500600Labor (billions of hours per year)>>> Draw only the objects specified in the question.Selected:Delete Clearnone?Click the graph, choose a tool in the palette and follow the instructions to create your graph.Check Answer1 partremainingClear AllMacBook ArDD20888F11F12escF6F7F8F9F10F4F5F1F2F3)@2#$12345678delet}QWERYPtabASDGH J Kcaps lockXCVBNM言了LL

Here, as the condition is mentioned, the U.S sends back millions of immigrant workers to their home…

Suppose that the United States cracks down on illegal immigrants and returns millions of workers to their home countries. Real wage rate (2012 dollars per hour) 80 Draw a labor supply curve and a labor demand curve for the United States. Label the curves LS, and LD Draw a point to show the equilibrium quantity of labor and the equilibrium real wage rate. Label it 1. Now suppose the United States returns millions of illegal immigrant workers to their home countries. Draw and label a curve that shows the effect of this return of workers. Draw a point to show the new equilibrium quantity of labor and the equilibrium real wage rate. Label it 2 70- 60- 50 40- 30 20- 10- 400 s00 600 200 Labor (billions of hours per year) 100 300 >>> Draw only the objects specified in the question. Selected: Delete Clear none Click the graph, choose a tool in the palette and follow the instructions to create your graph. Check Answer Gloar All

Suppose that the United States cracks down on illegal immigrants and returns millions of workers to their home countries. Real wage rate (2012 dollars per hour) 80 Draw a labor supply curve and a labor demand curve for the United States. Label the curves LS, and LD Draw a point to show the equilibrium quantity of labor and the equilibrium real wage rate. Label it 1. Now suppose the United States returns millions of illegal immigrant workers to their home countries. Draw and label a curve that shows the effect of this return of workers. Draw a point to show the new equilibrium quantity of labor and the equilibrium real wage rate. Label it 2 70- 60- 50 40- 30 20- 10- 400 s00 600 200 Labor (billions of hours per year) 100 300 >>> Draw only the objects specified in the question. Selected: Delete Clear none Click the graph, choose a tool in the palette and follow the instructions to create your graph. Check Answer Gloar All

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose that the United States cracks down on illegal immigrants and returns millions of workers to their home countries. Draw a labor supply curve and a labor demand curve for the United States. Label the curves LS, and LDO Draw a point to show the equilibrium quantity of labor and the equilibrium real wage rate. Label it 1. Now suppose the United States returns millions of illegal immigrant workers to their home countries. Draw and label a curve that shows the effect of this return of workers. Draw a point to show the new equilibrium quantity of labor and the equilibrium real wage rate. Label it 2.
Consider the labour market represented in the following graph: real wage W P equilibrium employment WS PS Employment rate Where WS represents the Wage Setting relationship, and PS represents the Price Setting relationship. Which of the following statements are INCORRECT? Changes in the marginal product of labour will change the equilibrium level of unemployment because it makes the wage setting (WS) curve shift. A non-labour related increase in cost of production, will shift the PS curve downwards. The PS curve is horizontal because changes in prices do not affect the rate employment in the economy. A positive demand shock that increases actual output will move the equilibrium employment to the right of the point E in the graph.
7. In Australia the (w) is 10 Australian dollars (AUD) per worker per hour, and the rental price of capital (r) is 2 AUD per machine per hour. Then the wage in units of machines-defined as the amount of machines that could be bought with one hour's wage-is calculated a. by the formula w xr and is equal to 20 machines b. by the formula w/r and is equal to 5 machines c. by the formula w +r and is equal to 12 machines d. by the formula w -r and is equal to 8 machines
The following is the labor market situation in Country XXX. “There is an increase in the numbers of entrant into the labor market in Country XXX around October as the new graduates who have just finished their studies are looking for jobs. Stiff competition added by the absence of an agency which can help these graduates find suitable jobs make it difficult for them to grab a job. At the same time, the government also announced that it has reduced the unemployment benefits. Based on the above labor market situation, explain how the characteristics of this market affect the natural rate of unemployment in Country XXX.
Consider Special City that manufactures light fixtures that are sold around the world. Draw their base case Labor Market graph. Now assume there is a national shortage of glass that Special City manufacturers use to create their light fixtures. Show what would be the effect on your Labor Market graph. Lastly, assume the manufacturers change their manufacturing process to use less glass but inadvertently create a very noticeable increase in the smog levels that makes it hard to breathe. Show another variation to reflect the change in your labor market graph, be sure to indicate the effects of the changes on for each of these market changes or combine the graphs, just be sure the changes and new equilibria are legible:
Use the figure below to answer the following question. Real wage rate (2002 dollars per hour) 25 LS 20 15 10 LD LDo O 50 100 150 200 250 300 Labour (billions of hours per year) From the figure, as a result of the rightward shift in the demand curve for labour from LDO to LD1, potential GDP , -- and potential GDP per hour of labour 1) increases; increases 2) decreases; increases 3) increases; decreases 4) decreases; decreases 5) increases; does not change
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.
Consider a company operating in a competitive market. The company sells units of output and receives a price of $30 per unit, and pays a daily market wage of $285 to each worker it employs. In the following table, complete the column for the value of the marginal product of labor (VMPL) at each quantity of workers. Value of the Marginal Product of Labor Labor Output Marginal Product of Labor (Number of workers) (Units of output) (Units of output) (Dollars) WAGE (Dollars per worker) 500 450 On the following graph, use the blue points (circle symbol) to plot the firm's labor demand curve. Then, use the orange line (square symbols) to show the wage rate. (Note: If you cannot place the wage rate at the level you want, move the two end points individually.) 400 Hint: Remember to plot each point halfway between the two integers. For example, when the number of workers increases from 0 to 1, the value of the marginal product for the first worker should be plotted with a horizontal coordinate…
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.
The figure describes the effect of immigration on unemployment in the labour market. The labour market equilibrium is at A and C before and after the influx of immigration, respectively. Based on this figure, which of the following statements is correct? Real wage 40 20 3 3 Wage-setting curve (before immigration) B Wage-setting curve (after) immigration) Labour force (before Immigration) Price- setting curve Labour force (after immigration) 4 4.5 5 5.5 Employment, millions of workers 6 Firms claim a higher markup in the new equilibrium. The unemployment rate is unchanged in the new equilibrium. All incumbent workers are no worse off in the new equilibrium. All incumbent workers are unaffected while the labour market adjusts.
3 Using the information in the Table below answer the following questions: Quantity of labour demanded (billions of hours per year) 70 60 50 40 30 Real wage rate (2007 dollars per hour) 15 20 25 30 35 Real GDP (trillions of 2007 dollars per year) 3 9 14 18 21 Quantity of labour (billions of hours/ year) 20 30 40 50 60 Quantity of labour supplied (billions of hours per year) 10 20 30 40 50 Quantity of NEW Labour Supplied (Billional a) Set up a Two-Tier Graph with the top table describes an economy's labour market and the second table describes its production function. Clearly showing and labeling Potential GDP which is equal to b) An increase in population changes the quantity of labour supplied by 20 billion hours at each real wage rate. Fill in the Column in the above Table & Plot the new Supply Curve in your graph with the new Potential GDP is.
Full answer to question a and b