What would happen to the quantities employed

Assignment Help Econometrics

Reference no: EM131297724

In the United States in 2002, 130,000 aircraft mechanics and service technicians earned an average of $20 an hour whereas 30,000 elevator installers and repairers earned an average of $25 an hour. The skill and training for these two jobs are very similar.

Suppose that a government law required both groups of workers to be paid $22.50 an hour. Draw a graph to illustrate what would happen to the quantities employed of the two types of labor.

Reference no: EM131297724

Questions Cloud

Liabilities decrease in equity increase in long-term debt : Which of the following is a Source of Cash? Choose only one. Increase in fixed assets Increase in current assets decrease in current liabilities decrease in equity Increase in long-term debt

Numerous organizational subsystems : Gypsy Industries has created numerous organizational subsystems to help it stay responsive to its environment. While this flexibility has helped the company meet its customers' needs, it has also created a need for ____________ within the organiza..

Draw demand and supply curves for these two types of labor : Draw the demand and supply curves for these two types of labor. What feature of your graph accounts for the differences in the two wage rates and what feature accounts for the differences in the quantities employed of these two types of labor?

How could a firm use the internet and technology : You are a manager of a video store.- Which theory of motivation do you think would best apply to your employees?

What would happen to the quantities employed : Suppose that a government law required both groups of workers to be paid $22.50 an hour. Draw a graph to illustrate what would happen to the quantities employed of the two types of labor.

A new compensation plan with a lower base salary : The company just implemented a new compensation plan with a lower base salary but the potential for large bonuses.- You are very excited about the plan, but your friend is not. Explain why this may be so.

Discuss the evolution of international agreements : Explain what is meant by "Open Skies" and discuss the evolution of these international agreements affecting access to world aviation markets. Compare "Open Skies" arrangements with bilateral agreements.

Identify a specific problem in your community : Identify a specific problem in your community that has been solved through a law enforcement initiative. If possible, base your paper on an interview you conduct with the person or persons responsible for creating and administering the program

Calculate the expected return and standard deviation : The stock of Bruin, Inc., has an expected return of 16 percent and a standard deviation of 31 percent. The stock of Wildcat Co. has an expected return of 11 percent and a standard deviation of 46 percent. The correlation between the two stocks is .31..

User Account

All Pages