Assume that the economy is in a full employment equilibrium. There is an improvement in overa technology for all firms. The following combination of events are likely to occur Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a output rises, prices fall b output falls, prices rise. output rises, prices rise

According to the Bureau of Labor Statistics, you are considered to be unemployed if you have no job. True O False 日 e ASUS 14 15 f6 f7 f8 f9 f10

How will automation affect the unskilled labor,

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Market Basket 1990 (Base Year) 2010 2011 Product Quantity Price Price Price A B C D 8 12 21 16 If your answer is not a whole number, round to two decimal places. What is the cost of the market basket in 1990? $ $4 $6 $7 $6 $9 $9 $7 $9 $10 $10 $14 $13 A/ What is the cost of the market basket in 2010? $ A What is the cost of the market basket in 2011? $ What is CPI in 1990? A/

How will automation affect the job market over the next decade?

● Suppose government mandates required firms to make 'safety expenditures' on behalf of workers that did not improve labor productivity. Describe the scale and substitution effects these mandates would have in the labor market.

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2 In The Hightower Lowdown (Voiume 12, Number 5, May 2010) you could read: 5 MILLION PEOPLE (about 10% of the workforce) are out of work • UNEMPLOYMENT IS HEAVILY SKEWED BY CLASS. Among the wealthiest 10% of American families (incomes above $150,000), only 3% are unemployed - a jobless rate that rises as you go down the income scale. Among the bottom 10%, more than 30% are out of work. [R178] What average unemployment rate for the middle 80% of families fits with the given values for the top and bottom 10% to work out to the overall (weighted) average unemployment rate of 10%?

Draw a AD/AS graph that shows businesses being shortstaffed. Must have three curves.