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Which has held a larger impact in the united states within this past century, added worker or discourage worker effect?
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- As a micro economic student, With the use of an illustration derive the backward sloping supply curve of labour and explain the circumstances under which it occurs?What accounts for the backward bending Labour supply curve?What economic factors determine whether a person participates in the labor force?
- How each of the following situations will affect labour demand, i.e. if it will cause amovement along the labour demand curve or a shift (state left or right) in the labour demandcurve. i) An increase in the minimum wage. ii) An increase in the efficiency of labour. iii)What is the “achievement gap”?In the context of a perfectly competitive model of the labour market, an increase in technologythat raises the marginal product of labour at any given level of employment would be expected, inequilibrium, toa) reduce the amount of labour required to produce a given amount of output and hence increaseunemployment.b) shift the labour demand curve outwards and lead to an increase in employment and wages.c) have no effect upon labour supply or labour demand curves and hence have no impact onemployment or wages.d) reduce the supply of labour to the market and result in an increase in wages but a fall inemployment Why the correct answer is B?