Reference no: EM131549171
In a small rural Pennsylvania town, the aggregate labor supply curve is given by LS = -20 + 5w and the aggregate labor demand by LD = 180 - 5w, where w is the hourly wage rate.
Question A
Calculate the equilibrium level of employment:
Calculate the equilibrium wage: $
What is the size of the labor force in equilibrium:
What is the unemployment rate in equilibrium: %
Question B
Following a national story about a neighboring town, many of this town's residents decided to
move, thereby shifting in the labor supply curve. The new aggregate labor supply curve is LS = -40+5w.
Calculate the new equilibrium wage: $
Question C
Assume the local labor market is slow to react to the exit of workers and, as a result, the wage does
not adjust to the new equilibrium wage.
What would be the level of employment:
What is the size of the labor force:
How many workers are unemployed:
|
Which of political philosophers do you judge most successful
: Which of the political philosophers, Locke, Hobbes, or More, do you judge most successful in grappling with the great problems of their age, and why?
|
|
Reasons firms strive to maintain stable
: There are two reasons firms strive to maintain stable (sticky) prices, the first is that these companies know that consumers do not take to kindly to price.
|
|
What is the p-value associated with coefficient t-statistic
: That is, can you reject the null hypothesis H0: B1 = 0 versus a two sided alternative at the 10%, 5% or 1% significance level?
|
|
Which is most important in designing compensation programs
: In your opinion, which is most important in designing compensation programs: job analysis, job evaluation, or job design.
|
|
Aggregate labor demand
: In a small rural Pennsylvania town, the aggregate labor supply curve is given by LS = -20 + 5w and the aggregate labor demand by LD = 180 - 5w
|
|
Economic problems facing europeans in the middle ages
: What were the economic problems facing Europeans in the Middle Ages? Did they adapt to those problems efficiently?
|
|
What elements should a data security policy for a bank
: How would you communicate a data security policy that required software checking of employees' emails?
|
|
Definition of and causes of recession and depression
: Discuss the definition of and causes of recession and depression, including factors such as inflation, tax rates, interest rates, unemployment
|
|
Ebit breakminus even in debt firm-allminus equity firm
: Calculate an EBIT breakminus even between a debt firm (DF) and an allminus equity firm (EF) based on the following information:
|