Discuss underlying cause for observed trends in labor market

Assignment Help Business Economics
Reference no: EM131242331

From the late 1970’s through 2000, the college wage premium increased rapidly. At the same time, the supply of college graduates to the labor market increased relative to the supply of high school graduates. What do these trends imply about the demand for college relative to high school graduates in the U.S. labor market over the time period? Clearly state the implications, and illustrate the changes using a graph of supply and demand that relates the college wage premium and the ratio of college to high school graduates. Briefly discuss one underlying cause for these observed trends in the U.S. labor market

Reference no: EM131242331

Questions Cloud

About respective roles of each-business-government-society : We will discuss your individual perspectives on the BGS relationships in the US economy today.  My intention here is to get a sense of the way you have viewed these relationships from what you know about the respective roles of each - Business - Gove..
Describes what happened to equilibrium price and reason : Note from the table that when the professor announced that the textbook would be required, the buyer value for each of the buyers increased by $8. According to the model of supply and demand, which statement best describes what happened to the equili..
How have laws such as americans with disabilities act : Based on the readings, how have laws such as the Americans with Disabilities Act (ADA) and the ADA Amendments Act (ADAAA), Civil Rights Acts, influenced the perception you and others have in relationship to diversity?
Reduce pollution from paper production is to reduce output : Suppose that the only way to reduce pollution from paper production is to reduce output. The government imposes a tax equal to the marginal harm from the pollution on the monopoly producer. Show that the tax may or may not raise welfare?
Discuss underlying cause for observed trends in labor market : From the late 1970’s through 2000, the college wage premium increased rapidly. At the same time, the supply of college graduates to the labor market increased relative to the supply of high school graduates. Clearly state the implications, and illust..
Marginal revenue produce-value of marginal product of labor : Suppose a firm in a competitive industry faces an equilibrium product price of $2 per unit of output. Table A provides information on the output produced by various amounts of labor. Briefly explain why the marginal revenue produce of labor (MRP) wil..
If policy change causes pareto improvement : If a policy change causes a Pareto improvement, is the outcome necessarily Pareto efficient? If a situation is Pareto efficient, are Pareto improvements possible? If a change occurs that causes a Pareto efficient outcome, is the change necessarily a ..
Competitive industry faces equilibrium product price : Suppose a firm in a competitive industry faces an equilibrium product price of $2 per unit of output. Table A provides information on the output produced by various amounts of labor. Use this information to complete the remaining columns of Table A, ..
Two types of persons-high-ability and low-ability : Suppose there are two types of persons: high-ability and low-ability. The schooling required to obtain a particular diploma costs a high-ability person $8,000 per year, and it costs a low-ability person $10,001 per year. Firms wish to use this diplom..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd