define hysteresis on the labor market and give one reason why it may arise in a recession

Q: Legislative efforts to make it more difficult for employers to lay off employees will most likely…

A: Unemployment is the situation when an individual is seeking a job but unable to find one.

Q: Consider a perfectly competitive labor market with a very inelastic supply of labor. If a payroll…

A: Elasticity of labor supply measures the responsiveness of number of labor supplied to changes in the…

Q: Consider the job search behavior of an unemployed worker. There is a wage offer distribution, which…

A: The reservation wage of a worker is the minimum wage that is required to make the worker willing to…

Q: How do I find the real wage equilibrium on a labor market equilibrium?

A: The equilibrium real wage rate is found out at the intersection of the supply and demand for labour.…

Q: Suppose the supply curve of physicists is given by w =10 + 5E, while the demand curve is given by w…

A: The equilibrium in any market is when the demand and supply are equal. To calculate the equilibrium,…

Q: t one: a. labour supply shifts to the left; wage rate increases and level of employment is Ia p.…

A: A decrease in efficiency stunts the GDP or the monetary result in contrast with the quantity of…

Q: What do we mean when we say that MRP is based on dependent demand?

A: MRP (Material Requirements Planning) is a computer-based inventory management system designed to…

Q: Non-market-clearing theories assume that wages do not instantly to clear the market. Arecessionary…

A: Non-market-clearing theories assume that wages do not instantly changing to clear the market. A…

Q: Explain the hedonistic wage function in short with a diagram

A:

Q: During the global pandemic, the data show an unprecedented surge in initial claims.Initial claims…

A: A quantitative model of two-sided search is proposed, with ex-ante heterogeneity in both worker and…

Q: Assuming a perfectly competitive labor market, what should an increase in the minimum wage do to the…

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…

Q: when companies elect to pay wages that are above the going market wage rate, this is likely to cause…

A: Structural employment is defined when there is a mismatch of employment between what the market need…

Q: Suppose the labour market is initially in equilibrium. Now consider that the government raises…

A: In this question the labour supply is that people want to provide to the firm and the labour demand…

Q: Sort the pros and the cons of Employment Insurance (EI). Pro Con Answer Bank increases frictional…

A: Employment insurance is a government plan that pays money to employees when they are unable to work.…

Q: Explain why wage rigidity due to labor unions may lead to structural unemployment.

A: Structural Unemployment: It is a form of involuntary unemployment (where are willing to work but…

Q: Explain in your own words the reason for wage rigidity?

A: The labor market will be in equilibrium when wages are free to adjust to equate the two quantities…

Q: o engage in a behavior that makes you as the employee look better but not increase fir O distortion.

A: Answer is scope. The creation of one good reduces the cost of producing another related good, which…

Q: Explain in your own words the reason for wage rigidity in detail.

A: Macroeconomics analyzes the economy as a whole. It studies aggregate economic concepts such as…

Q: What are some of the impacts that the National Labor Relations Act have on employment in the United…

A: The demand curve for labour, under the ceteris paribus assumption, shows the amount of labor…

Q: Using the labor-leisure model, evaluate the following: A. What happens to the probability that a…

A: Meaning of Income Effect: The term income effect refers to the situation under which the consumer…

Q: Q1) A prolonged and deep recession is called a........ Q2) labor demand curve A graph that…

A: 1.A prolonged and deep recession is called a depression. When recession increases to a very large…

Q: the labour-discipline model (LDM), the employer sets the wage to minimise the cost of effort. Using…

A: Hiring labour isn't the same as shopping for different items and services, and the agreement among…

Q: When unemployment exists in the supply and demand labor market model, there is an adjustment that…

A: Unemployment is the situation where the workers who are willing to and able to work but unable to…

Q: Identify THREE public policies that can stimulate employment and discuss the impact of each.

A: In an economy, unemployment is considered as one of the primary economic issues because it affects…

Q: a. Briefly explain how an effective minimum wage causes a structural unemployment.  b. With the aid…

A: a. Structural unemployment is the kind of involuntary unemployment which is caused by the…

Q: The wage gap is usually defined as the real wage divided by labor productivity. O True O False

A: In an economy, productivity of labor explains the ability of the workers to generate output.

Q: W/P Labor supply e) None of the above. MPL, Labor demand L The above graph is taken from chapter 2…

A: Both workers and businesses are participants in the labor market. For pay, workers provide labor to…

Q: What does the elasticity of unemployment rate with respect to benefit tell us about optimal…

A: The elasticity between two variables shows the percentage change in one variable due to percentage…

Q: Please help me respond to the following question with graphs: Suppose there is a reduction in…

A: If there is a reduction in income taxes, for a given worker, after tax income i.e. the disposable…

Q: How might relationships between so-called insiders and outsiders contribute to downward wage…

A: According to mainstream economists, one of the major reasons behind recessions is the rigidity of…

Q: Suppose there is an increase in the labor force participation rate. You would expect the equilibrium…

A: The equilibrium level of wage and quantity of worker or labor is determined by the point of…

Q: Discuss Keynesian view of minimum wage legislation on employment.

A: Minimum wage is the lowest wage that has to give for the labor. Generally, minimum wage is greater…

Q: Why does the salary gap persist?

A: Wage discrimination happens when, because of the activity of the work market, comparable laborers…

Q: 1) Inadiagram of the labour market A) a temporary adverse productivity shock causes the labour…

A: Dear student, you have asked multiple questions in a single post. In such a case, I will be…

Q: What type of wage rigidity is most likely to affect the unemployment rates of the following types of…

A: Wage rigidity can be explained as when wages don’t adjust to make the demand and the supply equal,…

Q: In this section you have to indicate whether you think the statement is true or false and explain…

A: A change in anything else that affects  demand for labor like changes in output, productivity or…

Q: The below graph shows the optimal asking wage. Suppose another individual with the same wage…

A: When the individual is present-oriented, he would not sacrifice his present wage or consumption at…

Q: Determination of Equilibrium Level of Employment by The aggregate demand price and aggregate supply…

A:

Q: During the global pandemic, the data show an unprecedented surge in initial claims. Initial claims…

A: A two-sided search model involves both the supply and demand sides of the labor market. That is, it…

Q: illustrate graphically a decrease of one of the determinants of aggregrate supply.

A: The macroeconomic equilbrium in an economy is determined by the aggregate demand and aggregate…

Q: Give three of explanations for how efficiency wages might work.

A: Efficiency wage is the concept which states that a worker increases his productivity with the…

Q: The real business cycle theory believes the supply of labour is inelastic True False

A: Supply is considered inelastic in real business cycle theory.

Q: As more people from gen Z graduate from highschool and college and enter the work force this will…

A: People, age is between 16 to 25 this person considers as Z generation, this generation considering…

Laffer Curve Analysis

In terms of economics, the Laffer curve was popular among those economists who were or who belonged to the supply side of the economic peripheral.  This concept was popularized by the famous supply-side economist known as Arthur Laffer. This curve illustrated the relationship between the tax rates and government revenue. It is already known that the tax which the public or individuals residing in an economy bear is the revenue or income of the government with the help of which the government does all the necessary works in the society, which is beneficial for the economy.