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- Plz give the explanationIf 42 percent of all people working in the UnitedStates are baby boomers, how many were working in2008? If 15 percent of the baby boomers retire in 10years, how many jobs will this represent from 2008employment? Use employment information from thelesson to make the calculations.The following figure shows the relationship between employment and monthly salary in the periods 1968 to 1984. Copytight o Moraw Educaton. Permsson required for reproduction or dispiay. Employment Monthly Salary ($) 250,000 4,500 230,000 4,000 210,000 190,000 3,500 170,000 150,000 3,000 130,000 2,500 110,000 Wage 90,000 2,000 70,000 Employment 50,000 1,500 1968 1970 1972 1974 1976 1978 1980 1982 1984 Using the labour supply - labour demand model, how can you rationalize the comovement between employment and wage in the period 1968-1976 The labour demand curve shifts to the left There is no way to rationalize the data The labour demand curve shifts to the right The labour supply curve shifts to the right The labour supply curve shifts to the left
- Below is a chart showing the Labor Force Participation rate for 15-64 year olds in the U.S. vs. Japan (called the 'Activity Rate' in the OECD data). Based on this chart, answer the questions below: FRED Actvity hate Aged 158 AN Persans r the thot Stanos Actvity RateAged 15 AN Persans for Apar 22 2002 2004 2006 010 2012 20 Sdng areas ndicale US recessioHIS Source Orgazation for Economc Co operaion and Develpment med souisled.org a) How could these trends in thé US & Japanese Labor Force Participation (LFP) rates impact per capita real GDP growth rates in their respective countries (i.e. in the U.S & in Japan)? Are there any factors which could mitigate the impact of these LFP trends on growth? b) What factors are likely to impact the trends in U.S. and Japanese LFP in the next year? Over the next 10 years?Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico.IftheproductivityofU.S.workersgrowsat2% for 25 years and the productivity of Mexico’s workers grows at 6% for 25 years, which country will have higher worker productivity at that point?A worker plans to retire at the age of 65, at which time he will start collecting his retirement benefits. Then there is a sudden change in the forecast of inflation when the worker is 63 years old. In particular, inflation is now predicted to be higher than it had been expected so that the average price level of market goods and wages is now expected to be higher. What effect does this announcement have on the person’s preferred retirement agea. If retirement benefits are fully adjusted for inflation?b. If retirement benefits are not fully adjusted for inflation?