EBK PRINCIPLES OF MACROECONOMICS
12th Edition
ISBN: 9780134079592
Author: Oster
Publisher: YUZU
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Question
Chapter 13, Problem 3.1P
Sub part (a):
To determine
Quantity of labor supplied, number of unemployed and the
Sub part (b):
To determine
Total employment, labor force, and the employment rate.
Sub part (c):
To determine
Changes in the labor market
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Check out a sample textbook solutionStudents have asked these similar questions
The market for plumbers in Boston is currently
in equilibrium. Labor supply is given by Ls = 3
x W and labor demand is given by Ld = 45 -
W (where L = quantity of workers, Ls
quantity of workers supplied, Ld = quantity of
workers demanded, and W = wage). The
plumbers have just unionized and have
negotiated a wage of $25 for all plumbers in
Boston. How many plumbers do you expect
to be unemployed as the result of this
change? Please round your answer to the
nearest integer.
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%3D
%3D
Supply: Thinking Like a Seller - End of Chapter Problem
Jerome is working as an IT consultant. His individual labor supply curve is given in the accompanying graph. Jerome decides to
enroll in college and will begin taking classes next semester.
Make the appropriate change to the graph to show the most likely effect on Jerome's labor supply curve of his decision to attend
college. If Jerome's decision to attend college results in a change in supply, shift the supply curve appropriately, but leave the
wage line unchanged. If Jerome's decision to attend college results in a change in quantity supplied, adjust the wage line
appropriately, but leave the supply curve unchanged.
Wage
Jerome's individual labor supply curve
Wage
Quantity
Supply
Consider the market for workers in a cafe.
Labor demand equation: Ld=40-2*w
Labor supply equation: Ls=4*w-32
w=hourly wage; Ls and Ld are in numbers of workers
1) Suppose that the workers in Café Alice think that their wages are too low and go on a strike.
As a result, Cafe Alice agrees to increase the hourly wage to $14.
How many workers will remain unemployed after the increase?
Chapter 13 Solutions
EBK PRINCIPLES OF MACROECONOMICS
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