Consider an economy with two labor markets: one for manufacturing workers and one for service workers. Suppose initially that neither is unionized.
Consider an economy with two labor markets: one for manufacturing workers and one for service workers. Suppose initially that neither is unionized.
Which of the following will happen to the manufacturing labor market if manufacturing workers formed a union? Check all that apply.
The wage of manufacturing workers will fall.
The demand for manufacturing workers will remain unchanged.
The supply of manufacturing workers will increase.
Some manufacturing workers will become unemployed.
Which of the following describes the effect of the changes in the manufacturing labor market on the market for service workers, which is not unionized? Check all that apply.
The wage of service workers will fall.
The supply of service workers will rise.
The demand for service workers will fall.
There will be an increase in employment in the service sector.
Indicate what happens to the unemployment rate and the labor-force participation rate in each of the following scenarios.
Homework Answers
Add Answer to:
Consider an economy with two labor markets: one for manufacturing workers and one for service workers. Suppose initially that neither is unionized.
7. Work It Out. Consider an economy with two sectors: manufacturing and services. Demand for labor...
7. Work It Out. Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: L Lm=200-6WmLs=100-4W L = 200 - 6W = 100 - 4W. where Lis labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 100 workers who are willing and able to work in either sector. a. If workers are free to move between sectors, what...
7. Work It Out. Consider an economy with two sectors: manufacturing and services. Demand for labor...
7. Work It Out. Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: L = 200 – 6Wm L = 100 – 4W where L is labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 100 workers who are willing and able to work in either sector. a. If workers are free to move between sectors, what...
Consider an economy with two sectors: agricultural and services. Demand for labor in agricultural and services...
Consider an economy with two sectors: agricultural and services. Demand for labor in agricultural and services are described by these equations: La = 200-6Wa Ls = = 1000 - 4Ws Where Lis labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 1000 workers who are willing and able to work in either sector. a. Suppose workers are free to move between sectors, and wages adjust to equilibrate labor supply...
Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services...
Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: LM = 200 - 4WM Ls = 100 - 4WS whereLis labor (in number of workers), Wis the wage (in dollars), and the subscripts denote the sectors. The economy has 199 workers who are willing and able to work in either sector. Workers in the service sector created a union that bargained for a $15.1 wage rate. Assuming that...
Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services...
Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: LM = 200 – 4WM Ls 100 – 4WS where Lis labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 193 workers who are willing and able to work in either sector. Workers in the service sector created a union that bargained for a $16.3 wage rate. Assuming...
3. Working with Numbers and Graphs Q3 Consider an economy with only two sectors: manufacturing and...
3. Working with Numbers and Graphs Q3 Consider an economy with only two sectors: manufacturing and service. Both sectors are perfectly competitive, and labor is homogeneous. Assume that changes in the labor market do not affect the product demand curve in either sector. Suppose a union forms in the service industry. The union limits its membership to fewer than the number of workers employed before the union formed and forces all employers in the industry to hire only union workers....
Consider the Harris-Todaro Model with an agricultural sector and a manufacturing sector. A. assume that the...
Consider the Harris-Todaro Model with an agricultural sector and
a manufacturing sector.
A. assume that the demand for agricultural labor decreases and
the minimum wage (M)
in the manufacturing sector remains unchanged. Determine the new
equilibrium number of agricultural workers, label it
L2A. What would the new unemployment interval
be?
FIGURE 7.12 The Harris-Todaro Migration Model Agricultural wage rate Manufacturing wage rate --XN --- - T LA LA LM Lu Unemployment We were unable to transcribe this image
The table below shows labor market statistics for a nation. 3 million Number of Workers Structurally...
The table below shows labor market statistics for a nation. Number of Workers Structurally Unemployed Number of Workers Cyclically Unemployed Number of Workers Frictionally Unemployed Number of Workers Officially Classified as Employed Working-age Population What is the nation's unemployment rate?Which of the following unemployed individuals represents frictional unemployment? (A) Marissa, a full-time student who plays on the school's soccer team. (B) Janet, an accounting graduate who is interviewing with a number of accounting firms. (C)Sameer, a retired faculty member who volunteers at the local hospital. (D) Jeremy, a customer service...
Simply counting the number of unemployed workers will not necessarily give the Bureau of Labor Statistics...
Simply counting the number of unemployed workers will not necessarily give the Bureau of Labor Statistics (BLS) the most accurate indication of the extent of underemployment in the economy. Some part-time workers will be counted as employed even if they'd like to work full-time. Furthermore, some jobless workers will not qualify as unemployed because they have given up on their job search, frustrated with their inability to find work. Fortunately, the BLS can use the information provided in the household...
7. Work It Out. Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: L Lm=200-6WmLs=100-4W L = 200 - 6W = 100 - 4W. where Lis labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 100 workers who are willing and able to work in either sector. a. If workers are free to move between sectors, what...
7. Work It Out. Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: L = 200 – 6Wm L = 100 – 4W where L is labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 100 workers who are willing and able to work in either sector. a. If workers are free to move between sectors, what...
Consider an economy with two sectors: agricultural and services. Demand for labor in agricultural and services are described by these equations: La = 200-6Wa Ls = = 1000 - 4Ws Where Lis labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 1000 workers who are willing and able to work in either sector. a. Suppose workers are free to move between sectors, and wages adjust to equilibrate labor supply...
Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: LM = 200 - 4WM Ls = 100 - 4WS whereLis labor (in number of workers), Wis the wage (in dollars), and the subscripts denote the sectors. The economy has 199 workers who are willing and able to work in either sector. Workers in the service sector created a union that bargained for a $15.1 wage rate. Assuming that...
Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations: LM = 200 – 4WM Ls 100 – 4WS where Lis labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 193 workers who are willing and able to work in either sector. Workers in the service sector created a union that bargained for a $16.3 wage rate. Assuming...
3. Working with Numbers and Graphs Q3 Consider an economy with only two sectors: manufacturing and service. Both sectors are perfectly competitive, and labor is homogeneous. Assume that changes in the labor market do not affect the product demand curve in either sector. Suppose a union forms in the service industry. The union limits its membership to fewer than the number of workers employed before the union formed and forces all employers in the industry to hire only union workers....
Consider the Harris-Todaro Model with an agricultural sector and
a manufacturing sector.
A. assume that the demand for agricultural labor decreases and
the minimum wage (M)
in the manufacturing sector remains unchanged. Determine the new
equilibrium number of agricultural workers, label it
L2A. What would the new unemployment interval
be?
FIGURE 7.12 The Harris-Todaro Migration Model Agricultural wage rate Manufacturing wage rate --XN --- - T LA LA LM Lu Unemployment We were unable to transcribe this image
The table below shows labor market statistics for a nation. Number of Workers Structurally Unemployed Number of Workers Cyclically Unemployed Number of Workers Frictionally Unemployed Number of Workers Officially Classified as Employed Working-age Population What is the nation's unemployment rate?Which of the following unemployed individuals represents frictional unemployment? (A) Marissa, a full-time student who plays on the school's soccer team. (B) Janet, an accounting graduate who is interviewing with a number of accounting firms. (C)Sameer, a retired faculty member who volunteers at the local hospital. (D) Jeremy, a customer service...
Most questions answered within 3 hours.
-
This assignment will explore the impact of corporate decisions
on a local versus a global perspective....
asked 58 minutes ago -
Given the function below, F(w,x,y,z)= x’z+w’z’+w’y
a) draw a logic diagram for an implementation which uses...
asked 33 minutes ago -
The sandwich maker of the EE-Cole-Eye Sandwich Truck was just
fired (for a reason described below)...
asked 12 minutes ago -
Most political philosophers believe we have a duty to obey laws,
even if the laws in...
asked 1 hour ago -
Which of the following are common negotiation outcome
mistakes?
a. Leave money on the table b....
asked 1 hour ago -
Propose an efficient synthesis of 2-Bromo-5-nitrotoluene from
benzene. Hint: 3 steps. Consider directing effects of substituents....
asked 1 hour ago -
Convert the following quantities:
a) 0.819 atm to torr b) 512 mmHg to bar c) 11.2...
asked 2 hours ago -
C ++ Implement cat command
The purpose of this assignment is to provide practice using the...
asked 2 hours ago -
we
convert sugars into another form of stored potential energy. This
is called?
asked 3 hours ago -
The manufacturers of Oriental Spice Sauce are concerned that the
sodium levels in their product vary...
asked 3 hours ago -
PLEASE DON'T ANSWER IF YOU CAN'T ANSWER ALL OF THE QUESTIONS. I
DESPERATELY NEED HELP
Consider...
asked 3 hours ago -
DO NOT ANSWER IF YOU ARE UNSKILLED IN THIS AREA! TYPE OR WRITE
EACH ANSWER CLEARLY!!...
asked 3 hours ago