Which of the following is true about labor productivity? O it is the amount of total factor productivity (TFP) per unit of labor O it is a more general and better measure of productivity than TFP it is more difficult to measure than TFP all of the above Onone of the above
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- Give typing answer with explanation and conclusion Production function Y=8*K^.33*L^.66 Now what if there is skill biased technological change that makes capital more productive relative to labor such that alpha or the exponent on K rises to .5 and the exponent on L falls to .5 By what % does real wage change? By what % does R/P change?The work force of a certain factory is growing at rate of 2 per month while the average productivity of a worker is growing at a rate of 4 units per month. If the work force is currently 100 and the average productivity per month is 200 units, at what rate is the total productivity per month of the factory increasing? (a) What happens if the work force is declining by 2 per month? (b) What happens if the average productivity is decreasing by 5 per month?Consider the possibility that government spending increases the amount of hours to be worked in a given time period, say by providing child care. Assume again that the initial amount of consumption and leisure are still just affordable after an increase in spending. How will an increase in government spending affect consumption, hours worked, output and welfare? [Hint: This exercise requires creatively reinterpreting how we apply our model to the data. Think about how we constructed the bounds on our labor/leisure model in terms of hours worked. Remem- ber our model does not have any sleep requirements built into it for instance.]
- Humanity is faced with a tough choice, work or leisure. Within the theory of consumer behaviour, apply the labour-leisure choice model to explain what happens when there are two (2) consecutive increases in the wage rate of a an individual and use that to derive the individual's 1.labour supply curve 2.demand for leisure curveSally is single. Her income rises because of her wise stock investments, but her wage rate stays the same. In the labor supply model that replaces "leisure" with "household production time," the increase in income will likely....Select one:OA. increase work hours as her higher income allows her to buy goods that make her more efficient in thehousehold.OB. decrease work hours as she spends more time in the household consuming more commodities.OC.decrease work hours because higher income people get more pleasure from working than being inthe household.OD. increase work hours as she spends less time in the household consuming more commodities.If 42 percent of all people working in the UnitedStates are baby boomers, how many were working in2008? If 15 percent of the baby boomers retire in 10years, how many jobs will this represent from 2008employment? Use employment information from thelesson to make the calculations.
- QUESTION 1Which of the following is an example of an unemployed person?O. A recent college graduate who has accepted a job offer but is taking the summor off before starting their new jobO. A full-time college student focusing solely on their studiosO. A collego-oducated Starbucks barista looking for a better jobO. A stay-at-home mother of 3 childrenO. A graduate studont looking for part-time woka) Determine the magnitude of the labour force in the economy?b) What is the Unemployment Rate for people aged 21 – 50? Report as apercentage to two decimal places. c) Calculate the Labour Force Participation Rate for this economy. Report aspercentage to two decimal places. d) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.e) Calculate the Employment Population Ratio for this economy. Repot as apercentage to two decimal places.f) For this part, assume that nothing changed with respect to the population, i.e. those who were working kept their jobs and those who were looking for jobs kept looking for jobs. For answering below questions choose between (will rise/will decrease/remains same) A. A baby is born.i) Unemployment Rate will……………………..ii) Labour Force Participation Rate will………….iii) Employment – Population Ratio will………….B. John, 35 years old, was discouraged by the poor job opportunities, sohe was not working and not looking for a…The economic model of Human Capital Investment assumes that individuals choose their path through post-secondary education based solely on which path will provide them with the highest lifetime income. In reality, individuals often choose a path through post-secondary education that does not maximize their lifetime income, as a result of various factors. Consider Alex, an individual whose path through post-secondary education did not maximize their lifetime income. For each of the following potential reasons, construct a brief story that relates that reason to Alex's choice of post-secondary education. a) Utility/disutility from education b) Relationship between job satisfaction and education c) Uncertainty of different income streams d) Difficulty of financing human capital investments E.g. If the reason is "incomplete information", a potential answer would be: "Alex's high school guidance counsellor gave them a list of potential university programs that suited their strengths.…
- If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?Why do you mink the U.S. experience with inflation over the last 50 years has been so much milder than in many other countries?Only typed answer over the last 50 years, in the united states the labor force participation rate for women ________, the labor force participation rate for men ________, and the over−all labor force participation rate ________. a.decreased; increased; increas b.increased; did not change; increas c.did not change; increased; increas d.increased; decreased; increas e.increased; decreased; did not change edededednot change
