Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN: 9781305280601
Author: William J. Baumol, Alan S. Blinder
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 2, Problem 4DQ
To determine
The fraction of American labor force working in factories, service businesses, and the government sector.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Choose the three main industries that demanded high numbers of cheap labor in the US, thereby relying on Mexican immigrants.
-Railroad maintenance
-Translators
-Agriculture
-Construction of roads
-Construction of homes
-Livestock
-Mining
Watch the video clip The Corporation. After watching the video clip consider that labor is a derived demand. What forces are at work demanding low-skilled labor in the developing world? What could a country do to improve the types of skills demanded of its labor?
What has changed in our communities because of global migration?
Chapter 2 Solutions
Macroeconomics: Principles and Policy (MindTap Course List)
Knowledge Booster
Similar questions
- n Lima one worker can produce either 32 bushels of corn of 10 pounds of tomatoes in one day. In Puma one worker can produce either 104 bushels of corn or 16 pounds of tomatoes in one day. The country that specializes in corn production isarrow_forwardThe Minister for Labour, John Ring, argues that closing the country's borders to international trade will create employment. Use a diagram to explain this scenario.arrow_forwardA new fertilizer formula improves crop yields. What would be the impact on the country's production function?arrow_forward
- Show how the diagram changes if there is an improvement in the technology of food production. Hint: this means that for a given number of hours’ work, Angela can produce more. If Angela is an independent farmer, show how the technology improvement might cause her optimal labour supply to either fall or rise. Which seems more consistent with the data from history?arrow_forwardIn reality, the economies of most countries are mixed rather than being pure market or command economies. Explain the reason for thisarrow_forwardWhat is the 4th industrial revolution? As a fresh graduate, why is it important to know what it is? How will it affect you as a future employee? (Please elaborately explain this)arrow_forward
- In 2005, manufacturing workers in the United States earned an average wage of $23.65 per hour. That same year, manufacturing workers in Mexico earned an average wage of $2.63 per hour. How can U.S. manufacturers possibly compete? Why isn’t all manufacturing done in Mexico and other low-wage countries?arrow_forwardEconomically, the U.S government is not concernedwith whether or not small businesses make it.arrow_forwardDo local entrepreneurs in the philippines can sustain and expand in the global markets? explain why.arrow_forward
- In his 2020 state of Nation address (SoNA) president of South Africa humbly noted that... '' Even if we (the government) were to Marshall every single resource at our disposal, and engage on a huge expenditure of public funds, we would not alone be able to guarantee employment to the millions of people who are out of work ''. and that '' Without growth there will be no jobs, and without jobs there will be no meaningful improvement in the lives of our people ".arrow_forwardWriting in 1776, Adam Smith was concerned not only with the profound effects of the division of labor on productivity (as your textbook notes) but also its stultifying effect on the human capacity. InThe Wealth of Nations, Smith warned that performing a few simple operations over and over again could render any worker, no matter his or her native intelligence, “stupid and ignorant.” a. Does the division of labor in today’s economy continue to have both these effects? b. What are the policy implications? (Radical)arrow_forwardTyson and Ella work at Ruby red movie theater. Tyson can produce 100 bags of popcorn or 50 got dogs in one hour. What would be the total number of bags of popcorn and hot dogs produced by the two workers combined?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Essentials of Economics (MindTap Course List)EconomicsISBN:9781337091992Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Macroeconomics (MindTap Course List)EconomicsISBN:9781285165912Author:N. Gregory MankiwPublisher:Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours...EconomicsISBN:9781337091985Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou...EconomicsISBN:9781285165875Author:N. Gregory MankiwPublisher:Cengage Learning
Principles of Macroeconomics (MindTap Course List)EconomicsISBN:9781305971509Author:N. Gregory MankiwPublisher:Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:9781285165912
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours...
Economics
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou...
Economics
ISBN:9781285165875
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Principles of Macroeconomics (MindTap Course List)
Economics
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:Cengage Learning