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- If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?Why is there unemployment in a labor market with flexible wages?What is structural unemployment? Give examples of structural unemployment.
- Beginning in the 1970s and continuing for three decades, women entered the U.S. labor force in a big way. If we assume that wages are sticky in a downward direction, but that around 1970 the demand for labor equaled the supply of labor at the current wage rate, what do you imagine happened to the wage rate, employment, and unemployment as a result of increased labor force participation?if the wage gap falls, then unemployment is like to fall O True O FalseTo say that the demand for labor is a derived demand means that the demand for labor depends upon the demand for the product produced by labor O the supply of labor rises when the demand for labor falls changes in the demand for labor lead to changes in the demand for the product produced by labor the quantity of labor is derived by the real wage rate
- The majority of new jobs in the US are created by Corporations. O True FalseQUESTION 21 Wage/Year MFC W, W2 W3 WA Ws MRP Labor/Year La L4 MR is Refer to the above figure. The wage rate under perfect compe W2. W3. W4. W5.The news article states that "Canadian youth and students are getting hit hard by this pandemic." In May 2020 the number of unemployed 15-24 year-olds was 1,710,900 and the 15-24 year-old labour force was 2,420,800. What was the unemploy te of youth? ne employment rate was D A. 41.6 percent O B. 13.7 percent OC. 29.4 percent O D. 24.1 percent
- 1. Describe with the use of diagam how the wage rate and level of employment are determined if the labor market is purely competitiveA discouraged worker is excluded from the definition of the labor force. O True O FalseUse the figure below to answer the following question. Real wage rate (2002 dollars per hour) 25 LS 20 15 10 LD LDo O 50 100 150 200 250 300 Labour (billions of hours per year) From the figure, as a result of the rightward shift in the demand curve for labour from LDO to LD1, potential GDP , -- and potential GDP per hour of labour 1) increases; increases 2) decreases; increases 3) increases; decreases 4) decreases; decreases 5) increases; does not change