Consider the Mortensen-Pissarides model of unemployment. Set unemployment benefits to b=0 and suppose that both wages and recruiting costs are proportional to productivity: w = By and k = cy where ß and c are two positive real numbers. The vacancy filling rate in equilibrium is equal to: a. A(1-B) - sc d. b. C. SC A(1-B) SC SC 1- B e. [al SC 2 ((1-B))² SC

Describe how workers and firms “marry” each other in the labor market when there are many types of jobs offering various levels of risk to their workers. What does the slope of the hedonic wage function measure?

0.25 is not the answer

When unemployment exists in the supply and demand labor market model, there is an adjustment that brings the model back into equilibrium—back to full employment.  Orthodox economists cite two mechanisms that cause the adjustment.  Explain each of these.

Under what assumptions is the aggregate labour demand function to be represented as a downward-sloping curve so that the real wage equals the marginal product of labour?

The Australian Bureau of Statistics recently reported a change in unemployment rate from 5.2% to 6.2%.With your understanding of unemployment, underemployment and others, do you believe this change is reflective of the employment situation in Australia? Discuss

Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer.   The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of discouraged workers 2 million (c) Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain. (d) Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. Show your work.

Which of the following models, if any, rests on the assumption of competitive factor markets?     Gravity model     Ricardian model     Heckscher-Ohlin model

Please help me answer this question

QUESTION 1 For the production function Q - K0.2L0.3 and the budget 141 = 8K + 2L find the NEW LEVEL in the optimal employment of capital (K) after wages change by a factor of 0.7 = while maintaining the same level of output. Please enter your response as a positive number with 1 decimal and 5/4 rounding (e.g. 1.15 1.2, 1.14 = 1.1).