How would the job be categorized

Reference no: EM13182706

Consider a family that ranks combinations of household production time (N) and purchased goods and services (Y) according to the formula: U= NY. Suppose the maximum time available in a day is 16 hours, the wage rate is $4 per hour and the family receives $20 per day in non-labor income. Due to a recession the husband loses his job. Assuming that ? =0.5, would an hour spent in the labor force searching for a job make the husband better off or worse off? Would the worker continue to be a member of the labor force under these conditions? If not, how would he be categorized?

Reference no: EM13182706

Questions Cloud

State change in enthalpy for the following specific reaction : Heat evolved per mole of Mg 6) Change in enthalpy for the following specific reaction. Be sure to indicate the correct sign (- or +) for the change in enthalpy. Mg(s) + 2H(aq)===>Mg(aq)+H2(g)

Find out the concentration of the hcl solution : Determine the concentration of the HCL solution from the data for the standardization of the HCl with the Na2CO3 Na2CO3 had 0.0826 grams in 25ml of water Initial volume of HCl

What is the monopolists total cost function : Suppose a monopolist can purchase Labor at a price w = 36 and can purchase Capital at a price r = 25. The monopolist's production function is given by Q = L1/2K1/2. The demand facing the monopolist is given by P = 180 - 3Q. a) What is the Monopol..

Explain the effects on the market for caviar : Caviar and champagne are complements. Recently, pollution has been a problem in the Volga River, where much of the world's caviar originates. The sturgeon that live in these waters are laying fewer eggs than before. Show graphically and explain..

How would the job be categorized : Consider a family that ranks combinations of household production time (N) and purchased goods and services (Y) according to the formula: U= NY. Suppose the maximum time available in a day is 16 hours, the wage rate is $4 per hour and the fa..

State chemical process is designed to produce ethylene : A chemical process is designed to produce ethylene from ethane according to the reaction: C2H6 (ethane) ? C2H4 (ethylene) + H2 The fresh feed to the process contains pure ethane at a flowrate of 100 mole/min. The fresh feed is mixed with a recycl..

Identify what is the major flaw of the comparative advantage : Someone claims that the "bargaining" hypothesis appeared in the literature because of a significant flaw in the "comparative advantage" hypothesis. After you briefly explain what these two hypotheses stand for, identify what..

Prepare the slides and notes for your presentation : Prepare the slides and notes for your presentation following the format below. Your presentation should be limited to a maximum of five slides.

Draw the structure of a constitutional isomer : Draw the kekule structure of each of the following compounds. if cis/trans isomers exist, draw both and indicate the geometry of each. Also draw the structure of a constitutional isomer.

User Account

All Pages