What do you think can shift LRAS? Explain why.

Q: why does the shift from GATT to WTO should be considered more of an “economic driver” rather than…

A: Definition:   The General Agreement on Tariffs and Trade (GATT) covers the international interchange…

Q: How can we improve gender parity in employment?

A: Gender parity is considered to be a prerequisite for reduction of poverty, promotion of sustainable…

Q: If occupation A pays more than occupation B, as long as there is a movement between the occupations,…

A: In the wage market, the labor supply their services to the firms. While the firm demands labor…

Q: How did current labor market in the United States change by covid?

A: The labour force is the total number of individuals looking for employment, including both employed…

Q: What is the sectoral shifts hypothesis?

A: The unemployment is the most dangerous and negative impact on the economy where the economy can…

Q: What is the replacement ratio and how can it cause structural unemployment

A: Structural unemployment is a longer-lasting form of unemployment caused by fundamental shifts in an…

Q: Over the last several decades improvements in computer software, hardware and robotics have…

A: Technology will assist you in organising all of the tasks you would like to perform whereas…

Q: Interpret the meaning of "rate of exploitation = 1000" for making hamburgers at a fast-food…

A: Answer - Need to find- Would this rate of exploitation increase or decrease when greater automation…

Q: Assume that the labour demand equation for a fictional country is Ld= 30 w, where wis the wage per…

A: we need to set the demand equation  ( Ld = 30 - w ) equal to the supply equation ( Ls = 0.5w ) and…

Q: Click to see additional instructions When supplying labour for universities, academics are aware…

A: In the labor market , the equilibrium wages will be found at the level where the demand for labor…

Q: How can we reduce the number of low-income workers and increase the number of middle-and…

A: There are many factors like education, training, health services, etc. that can decrease the number…

Q: Consider this monopolistic competitor: P. IV 98 II 72 67 66 38 440 620 Carefully following all…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: During periods of expansion, the demand for labor will increase. This causes wages in the econor to…

A: Economic expansion results in economic growth which has the following impact.

Q: What is the term economists use to refer to the relationship that a higher price leads to a lower…

A: Demand curve is the downward sloping curve.  Supply curve is the upward sloping curve.  Equilibrium…

Q: 7. Work It Out. Consider an economy with two sectors: manufacturing and services. The demand for…

A: Labor Demand is the demand that firms and companies make to meet the labor requirements that arise…

Q: Consider a simple demand-and-supply model of a competitive labour market in a small town. The demand…

A: In the labor market there is a demand for labor (firms make demands for labor) and supply of labor…

Q: What is the sector model used for?

A: The sector model, also referred to as the Hoyt model, could be a model of urban land use proposed in…

Q: The Woodland Republic’s Population Secretariat published the following information in 2021: Total…

A: Given information: Total population = 30 million Labour force = 80% of the total population Employed…

Q: What is the Global Gender Gap Index?

A: Global Gender Gap Index evaluates the average income earned by female to the income earned by male.

Q: Explain the effects of migration of labour between two nations. Use the figure below and the…

A: Equilibrium Wage Rate: the equilibrium wage rate refers to the wage rate that is determined by the…

Q: g) Discuss four drivers of slowbalisation. h) S, "gest f. ith th-

A: Slowbalisation is a phenomena that occurs when the rate of global integration slows. Globalisation…

Q: Briefly and intuitively explain why the wages of skilled workers in both countries home and foreign…

A: Offshoring activities allude to the act of an organization or association relocating specific…

Q: In 1999, the French minimum wage was around 50 francs. Describe the (francs / hours of leisure)…

A: Minimum wage is defined as the least amount of renumeration which the employers are required to pay…

Q: Consider a simple demand-and-supply model of a competitive labour market in a small town. The demand…

A: Given,Demand:Supply:where w is the wage ($ per hour) and L is the number of hours of employment…

Q: The United States is increasingly outsourcing jobs to India: having the work done in India rather…

A: The amount of skilled labor that is available in the market at different wage levels is represented…

Q: Consider the labour markets for economists and accountants. They both require some level of comfort…

A: The information given implies that both economists and accountants are substitutes and can switch…

Q: 4. Migration. The graph below shows the MPL as a function of the amount of labor for two economies:…

A: Since total labor is 100units, the rest 70 units will be hired in a foreign country. So wage in the…

Q: How would increasing minimum wage affect national economic standings?

A: The minimal amount of compensation that an employer is obligated to pay wage earners for the job…

Q: What is the economic condition that results from the decrease in SRAS called?

A: When the AD or SRAS curves shift, shocks occur. If the economy shifts suddenly, the aggregate demand…

Q: Construct a diagram to describe an equilibrium in a labour market. Clearly label the axises and the…

A: on the x-axis quantity of labors plotted while on the y-axis wage rate plotted. Consider the below…

Q: W/P Labor supply e) None of the above. MPL, Labor demand L The above graph is taken from chapter 2…

A: Both workers and businesses are participants in the labor market. For pay, workers provide labor to…

Q: Illustrate and explain the impact of a minium wage on the labour market

A: The minimum wage rate or the wage floor is a concept where the government authority fix is the…

Q: Give a brief example of structural unemployment

A: An unemployment occurs due to a fundamental changes in an economy for a longer term can be…

Q: Give a probable reason why some companies are reluctant to hire more and more of a worker?

A: To staff is the most important and crucial step in any organization. Having a satisfying and…

Q: In a __________ marriage, both husband and wife are in the labor market.

A: There are two type of marriages  1. civil  2.religious

Q: Why do you think it is that not allworkers are members of laborunions?

A: Labor unions can be understood as an association of workers that works to protect the interest of…

Q: If a labour market is in equilibrium and contracts are incomplete: Employers are willing to hire any…

A: In the labor market,bit can be said that some of the contracts are incomplete because not all the…

Q: What happens to a supply curve when price changes but structural variables remain fixed? Provide an…

A: The quantity supplied(Qs)  in the market is influenced by multiple factors such as prices,…

Q: Asthebabyboomergenerationretires,whatshould happen to wages and employment? Can you show this…

A: Meaning of Boom in Business Cycle: The term boom in the business cycle refers to the situation…