Understanding the labor market using supply and demand, Microeconomics

Assignment Help:

The market for labor can be studied use a supply and demand framework.  The demand for labor is from employers who use labor to produce goods and services.  The supply of labor is from workers who forego their time to work.  What happen to the price(wages) and quantity of college educated workers in the United States if the following events happen.  Analyze each event separately using the model of supply and demand.  Illustrate each event with a graph of demand and supply.  Label curves, relevant points, and axes. 

a. The United States uses the draft for the Vietnam War from 1964 to 1973, while offering draft deferments to college students. 

b. Skill-biased technological change increases the productivity of college educated workers who have the skills to use new information technology.

c. The Gozer-Destroyer plague of 2014 kills twenty percent of the people who are infected through unsanitary computer keyboards.

d. Fifty million college educated workers move to America from Europe and Asia in the great migration of 2013.   

 


Related Discussions:- Understanding the labor market using supply and demand

Explain the post-keynesian economics, Q. Explain the Post-Keynesian Economi...

Q. Explain the Post-Keynesian Economics? Post-Keynesian Economics: A modern heterodox school of economic thought that emphasizes more radical or non-neoclassical aspects of Joh

Show the method of applying a discount, Q. Show the method of applying a di...

Q. Show the method of applying a discount? The method of applying a discount rate to convert future monetary amounts to their equivalent value in today's terms, based on the pr

Natural environment for economics, Q. Natural environment for economics? ...

Q. Natural environment for economics? Environment: The natural environment is an essential aspect of the economy, whose influence is felt in several different ways. Everyone

Economics, Ask questiowhat are the importance of the branches of economics

Ask questiowhat are the importance of the branches of economics

Elasticity, what are the uses of cross elasticity quantity in demand/

what are the uses of cross elasticity quantity in demand/

Indifference curve properties and its assumptions, what are the main proper...

what are the main properties and assumptions of indifference curve

Institutional intervention on deightweight loss, so this question asks for ...

so this question asks for the deadweight loss if an institution decided to provide this service free of charge. I was wondering if this will achieve the socially efficent level or

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd