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
Explain the monopolistic competition model of equilibrium with price competition under chamberlin s model

A recent national survey found that high school students watched an average (mean) of 7.2 DVDs per month with a population standard deviation of .90. A random sample of 35 college

What is the difference between GDP and GNP?  Gross domestic product (GDP) is the value of the total final output formed inside a country, during a given year. GDP, like all mea

When is the price of a product demand determined? The price of a product is demand defined while the product is in fixed supply. This means that the price of the product is defin

How to solve questions of endowments?

Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the

Why has it been difficult to produce a single estimate of an environmentally adjusted or "greened" GDP? What are the two approaches that can be used to put a value on environmental

What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and w

The raspberry growing industry is a perfectly competitive industry. The firms in the industry have a U-shaped LAC, minimum average cost is $8 and the minimum efficient scale is 4 u

LONG PERIOD ANALYSIS: Long period refers to a time when all the factors are variable. Earlier in the short period analysis, we had considered capital (K) to be fixed factor. H