MICROECONOMICS CONNECT ACCESS CODE ONL
21st Edition
ISBN: 9781260720853
Author: McConnell
Publisher: MCG
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Chapter 25, Problem 1RQ
To determine
Legal and illegal immigrants to U.S.
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Assume that the labor demand equation for a fictional country is L d =30-w where w is the wage per hour worked and L d is the number of workers demanded by firms. Assume also that the labor supply equation for that country is L s =0.5(w) , where L s is the number of people willing to work . [LO 9.2,9.5] a. Find the equilibrium wage and quantity of labor employed b . At the equilibrium wage , how many people are unemployed ? c. How would the number of unemployed change if the supply of workers increased ?
What are spillover effects and how do they affect growth? (LO27-4)
Assume that the productivity of farm labour depends on daily caloric intake, similarly to that depicted in Figure17.4. Using this kind of diagram, compare the efficiency wages that would apply to the following two types of workers:
• A landless labourer
• A labourer with small plot of land on which he
grows staple crops
Describe the likely equilibrium unemployment rates and wage rates for landless labourers and small landholders. Judging partially on the basis of this example, what sorts of data and what empirical strategies might you use to see whether nutritional efficiency wages were an important element in the rural labour markets of poor, rural economies?
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MICROECONOMICS CONNECT ACCESS CODE ONL
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- Using the data in Table 8P - 3 , calculate the CPI and the inflation rate in each year, using 2010 as a base year . [LO 8.2arrow_forwardat job group(Occupation) was the smallest among immigrants? Why do you think so few people from that group came to the United States?2.) What job group was the largest? Why do you think so many people from that group came to the United States?arrow_forward3) Suppose that Alpha and Omega have identically sized working-age populations but that total annual hours of work are much greater in Alpha than in Omega. This could happen because more of Alpha’s labor force is unemployed, or Omega workers place a lower value on leisure than those in Alpha. Omega’s labor force is underemployed, or Omega workers place a higher value on leisure than those in Alpha. Alpha’s labor force is underemployed, or Omega workers place a higher value on leisure than those in Alpha. more of Omega’s labor force is unemployed, or Omega workers place a lower value on leisure than those in Alpha.arrow_forward
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