Understanding the labor market using supply and demand, Microeconomics

The market for labor can be studied use a supply and demand framework.  The demand for labor is from employers who use labor to produce goods and services.  The supply of labor is from workers who forego their time to work.  What happen to the price(wages) and quantity of college educated workers in the United States if the following events happen.  Analyze each event separately using the model of supply and demand.  Illustrate each event with a graph of demand and supply.  Label curves, relevant points, and axes. 

a. The United States uses the draft for the Vietnam War from 1964 to 1973, while offering draft deferments to college students. 

b. Skill-biased technological change increases the productivity of college educated workers who have the skills to use new information technology.

c. The Gozer-Destroyer plague of 2014 kills twenty percent of the people who are infected through unsanitary computer keyboards.

d. Fifty million college educated workers move to America from Europe and Asia in the great migration of 2013.   

 

Posted Date: 3/8/2013 1:31:47 AM | Location : United States







Related Discussions:- Understanding the labor market using supply and demand, Assignment Help, Ask Question on Understanding the labor market using supply and demand, Get Answer, Expert's Help, Understanding the labor market using supply and demand Discussions

Write discussion on Understanding the labor market using supply and demand
Your posts are moderated
Related Questions
3.Cost Minimization for Cobb-Douglas. Suppose the Acme Gumball Company has the produc- tion function of q=LK. Given that the MPL=K, MPK=L and MRT S=MPL/MPK. Part a-b, we are anal

why is the concept of elasticity crucial to the study of economics?

group trend including ionic and atomic radii,electron affinity,electronegativity,charge density and ionization potential

Ask qIf the supply and demand curves for labor are represented by the following equations: Wd= -- (1/100)Ld + 30 Ws= (1/200)Ls Ws=Wd Ld=Ld a. Graph the results and show the equili

How can we calculate the Inflation rate Inflation:   The rise in general prices and the decrease in value of money. Inflation is a sustained increase in the general price level

all information about demand analysis

GOVERNMENT FINANCE: UNION  AND STATES: The fiscal position of the Governments - both Centre and States - has been under stress since the mid-1980s. The stress stems from the i

Consumer Choice   * Decision making & Public Policy - Selecting from a non matching and matching grant to fund police expenditures

could the village prepare 14 campsites and grow 350 pawpaws?explain your answer.

1) A) Suppose that several months of data showed the CPI increasing at a 4.5% annual rate due largely to increases in the price of energy and food related commodities following sev