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
At what point is the Fed likely to raise interest rates for the first time? How large are the first couple of hikes likely to be? (hints: conditional on unemployment or gdp growth

#questASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100

Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand functio

explain normal profits

Define the concept of cross elasticity of demand

Write the formulas to show the reactants and products for the following reactions. Assume that solutions are aqueous unless otherwise indicated. Represent substances in solutions a

Q. Explain about Capacity Utilization? Capacity Utilization: A company or economy's capacity represents maximum amount of output it can produce. Rate of capacity utilization, h

1. Implicit and explicit revenues minus implicit and explicit costs equals: A. accounting profit. B. economic profit. C. zero profit. D. implicit profit. 2. A business owner mak

meaning, scope, nature