Identify two reasons why a wage might rise above the market equilibrium,and describe their effect on the labor market.

Q: what are the factors that will lead to an increase in demand for workers in an economy?

A: There are many factors that could lead to an increase in the demand for labor. Some of them are: 1.…

Q: If higher wages raise productivity, does supply and demand determine wages?

A:

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: Give two reasons why a firm might want to pay workers above the competitive wage and how can this…

A: Efficiency wages refers to the employers paying more wages to the workers. This means that the wages…

Q: Explain why there will always be some unemployment when the labour market is in equilibrium.

A: Unemployment can be defined as a situation in which individuals who are employable and seeking a job…

Q: Explain, with the aid of a diagram, the impact of the imposition of a minimum wage above the…

A: Minimum wages are described as "the bare minimum of remuneration that an employer is compelled to…

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: true or false? Non-monetary aspects to a job can explain why wages may differ given that two…

A: Non-monetary benefits:- Non-monetary remuneration is defined as any sort of non-cash compensation…

Q: In a competitive labour market, businesses seek to maximize profits at the least cost (ie.…

A: In a competitive labor market , a firm maximizes its profits and optimizes its input costs at the…

Q: In a competitive labor market, an increase in theminimum wage results in a(n) _________ in…

A: And increase or decrease in the wage rate will affect the labor supply and demand curve.

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

A:

Q: Which of the following does not impact the decisions of employers in the labour market? a.…

A: Labor Market is defined as a system where the labor demand and supply forces meet each other in…

Q: captures characteristics other than the real wage that affect labor supply, such as unemployment…

A: According to the neoclassical theory, economic growth depends on three factors. These are labor,…

Q: What is the equilibrium wage rate? what is the equilibrium level of employment?

A:

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: Analyze and explain the effect of the minimum wage law on the unemployment rate. Explain your answer…

A: Analyze and explain the effect of the minimum wage law on the unemployment rate. Answer: The minimum…

Q: Leo runs a bicycle repair shop. He recently examined information on wage and employment levelsand…

A: The real wages are refers to the nominal wage rates which have been adjusted for inflation

Q: Which of the following variables is most directly determined in the labor market? A) nominal wages B…

A: Labor market shows equilibrium in the factor market where labor demand and labor supply determine…

Q: Forecast (3-year minimum) of the U.S. labor force participation rate

A: For the making forecast of the labour(L) force participation rate, we have to go for the data for…

Q: graphically explain the effects of an increase in non-labour income to labour supply.

A: Labor supply is an upward sloping curve because with the increase in wages, the supply of labor…

Q: Labor Market  In each of the following scenarios, use the market chart for auto workers to find the…

A: A labor market is the demand and supply of the labor and the services provided by them in the…

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: 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: 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: Consider an economy with two labor markets: one for manufacturing workers and one for service…

A: Wage rate is determined at the intersection of demand and supply of labor curves.

Q: Which of the following statements is correct regarding involuntary unemployment?        When there…

A: Involuntary Unemployment  Involuntary unemployment stands for unemployment that occurs when the…

Q: According to efficiency wage theory, what is NOT a reason that companies want to pay an efficiency…

A: Efficiency wage theory says that firms pay workers above competitive wage.

Q: Explain five ways in which a firm might increase its profits by raising the wages it pays?

A: Wages refer to the fixed amount of sum paid to the workers for rendering their services in a firm or…

Q: Illustrate and explain the impact of a minium wage on the labour market

A: The minimum wage rate or the wage floor is a concept where the government authority fix is the…

Q: "GROWTH in retail sales slowed as expected during the covid 19 pandemic"  Illustrate and explain,…

A: Answer: It is given that the growth in retail sales slowed as expected during the covid 19 pandemic.…

Q: 4- 1-(3 POINTS)The Bureau of Labor Statistics reported the following data for 2005: Labor force…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Explain the dual labor market?

A: A labor market is a type of market where the workers and employee communicate with one others. In…

Q: Illustrate and carefully explain the impact of an increase in the income tax rate from 25 percent to…

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

Q: If a labour market is in equilibrium and contracts are incomplete: Employers are willing to hire any…

A: In the labor market,bit can be said that some of the contracts are incomplete because not all the…

Q: The following is the labor market situation in Country XXX. “There is an increase in the numbers of…

A:

Q: What are the causes of inflexible or sticky wages

A: Sticky wages are the earnings of workers, which cannot be quickly adjust with the market conditions.

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: How useful is the dual labor market perspective?

A: The hypothesis that the American economy, or labour market, is divided into two categories: the…

Q: Explain in two ways how the equilibrium wage can be disturbed

A: Equilibrium  wage is the wage rate which equates the demand and supply of the labor. The…

Q: the consumer's hours of work? What does this have to say about what we would observe about the…

A: The individual can spend the time available for two purposes: either work, or use it for leisure.

Q: 50 SAR 70 SAR 90 SAR 110 SAR 130 SAR 180 200 220 220 240 260 200 180 160 140 What is the equilibrium…

A: The equilibrium wage rate is determined at a point where the quantity of labour supplied intersects…

Q: Analyze and explain the effect of the minimum wage law on the unemployment rate. Explain your answer…

A: Minimum wage act: - it ensures the minimum amount of wage for workers. Unemployment: - unemployment…