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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.
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
Point elasticity: It refers to measurement of elasticity on a point On a demand curve. Point elasticity helps in measuring elasticity where change in price and quantity is infinite
Regulation is not a panacea. There are troubles with rate regulation. In our litigious society, the legal proceedings contained in rate regulation are not inexpensive for any of
Once countries already have a high level of production, how might they achieve living standards growth? Once countries achieve a high level of production, they might be achiev
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explain graphically Equilibrium of a multi product firm
Q. What do you meant by Retained Earnings? Retained Earnings: Business profits that aren't distributed to shareholders (by dividends or other pay-outs) thoughinstead are retain
1) Vitamin A Vitamin A has been chosen as the vitamin to be included in the supplement since it has a role in several functions some of which as follows: 1. Helps in proper vision.
relationship between tfc , tvc , tc
Labour Supply:Total number of workers available and willing to work in a paid position; generally measured by the labour force(even though the labour force usually excludes many wo
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