Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN: 9781337091985
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Question
Chapter 10, Problem 8PA
Subpart (a):
To determine
Changes in labor market.
Subpart (b):
To determine
Changes in labor market.
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Consider an economy with two labor market- one for manufacturing workers and one for service workers.Suppose initially that neither is unionized.a.If manufacturing workers formed a union ,what impact would you predict on the wages and employment in manufacturing?b.How would these changes in the manufacturing labor market affect the supply of labor in the market for service workers?What would happen to the equilibrium wage and employment in this labor market?
When economists say that the demand for labor is a derived demand, they mean that it is...
A. dependent on government expenditures for public goods and services
B. related to the demand for the product or service labor is producing
C. based on the desire of businesses to exploit labor by paying below equilibrium wage rates
D. based on the assumption that workers are trying to maximize their money incomes.
Consider an economy with two labor markets: one for manufacturing workers and one for service workers. Suppose initially that neither is unionized.
Which of the following will happen to the manufacturing labor market if manufacturing workers formed a union? Check all that apply.
The wage of manufacturing workers will fall.
The demand for manufacturing workers will remain unchanged.
The supply of manufacturing workers will increase.
Some manufacturing workers will become unemployed.
Which of the following describes the effect of the changes in the manufacturing labor market on the market for service workers, which is
not unionized? Check all that apply
The wage of service workers will fall.
The supply of service workers will remain unchanged.
The demand for service workers will remain unchanged.
There will be an increase in employment in the service sector.
Chapter 10 Solutions
Brief Principles of Macroeconomics (MindTap Course List)
Ch. 10.1 - Prob. 1QQCh. 10.2 - Prob. 2QQCh. 10.3 - Prob. 3QQCh. 10.4 - Prob. 4QQCh. 10.5 - Prob. 5QQCh. 10 - Prob. 1CQQCh. 10 - Prob. 2CQQCh. 10 - Prob. 3CQQCh. 10 - Prob. 4CQQCh. 10 - Prob. 5CQQ
Ch. 10 - Prob. 6CQQCh. 10 - Prob. 1QRCh. 10 - Prob. 2QRCh. 10 - Prob. 3QRCh. 10 - Prob. 4QRCh. 10 - Prob. 5QRCh. 10 - Prob. 6QRCh. 10 - Prob. 7QRCh. 10 - Prob. 1PACh. 10 - Prob. 2PACh. 10 - Prob. 4PACh. 10 - Prob. 5PACh. 10 - Prob. 6PACh. 10 - Prob. 7PACh. 10 - Prob. 8PACh. 10 - Prob. 9PACh. 10 - Prob. 10PA
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Similar questions
- Consider an economy with two labor markets: one for manufacturing workers and one for service workers. Suppose initially that neither is unionized. Which of the following will happen to the manufacturing labor market if manufacturing workers formed a union? Check all that apply. The wage of manufacturing workers will fall. The demand for manufacturing workers will remain unchanged. The supply of manufacturing workers will increase. Some manufacturing workers will become unemployed. Which of the following describes the effect of the changes in the manufacturing labor market on the market for service workers, which is not unionized? Check all that apply. The wage of service workers will fall. The supply of service workers will rise. The demand for service workers will fall. There will be an increase in employment in the service sector.arrow_forwardConsider the market for workers in a cafe. Labor demand equation: Ld=40-2*w Labor supply equation: Ls=4*w-32 w=hourly wage; Ls and Ld are in numbers of workers 1) Suppose that the workers in Café Alice think that their wages are too low and go on a strike. As a result, Cafe Alice agrees to increase the hourly wage to $14. How many workers will remain unemployed after the increase?arrow_forward
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