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
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

With the recession, average incomes have fallen from $44,375 to $41,720.  Before the recession Groucho's Gizmos sold 600 gizmos a month. As an economics, predict the number of gizm

A newspaper recently lowered its price from 50 cents to 30 cents. As it did, the number of newspapers it sold increased from 240,000 to 280,000. i)   Over this price range what

Manners of reaching to someone's place with a present of anything like flowers, chocolates, etc. In U.S., it's not feel good to give flowers to women by men. If a man giving some g

Long Waves: Longer-term periods of stagnation or growth in the economy, that can last for a decade or more and reflect broader changes in technology, politics, and international re

short run equilibbrium



Ask question #what is an indifference curveMinimum 100 words accepted#

Budget Constraints   * The Budget Line - The budget line indicates all the combinations of 2 commodities for which total money spent equals the total income. * The Budget