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6 Pages

### Babysitting and Birthrate

Course: ECON 101, Spring 2011
School: University of Phoenix
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Word Count: 538

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head: Running BABYSITTING AND BIRTHRATE 1 Babysitting and Birthrate Joey D. Finley Kaplan University Macroeconomics BU204-10 Fazlul Miah March 22, 2011 Babysitting and birthrate Question: The small town of Middling experiences a sudden doubling of the birth rate. After three years, the birth rate returns to normal. Use the graphs for each question, adding any arrows or other indicators that you feel are...

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head: Running BABYSITTING AND BIRTHRATE 1 Babysitting and Birthrate Joey D. Finley Kaplan University Macroeconomics BU204-10 Fazlul Miah March 22, 2011 Babysitting and birthrate Question: The small town of Middling experiences a sudden doubling of the birth rate. After three years, the birth rate returns to normal. Use the graphs for each question, adding any arrows or other indicators that you feel are necessary, to illustrate the effect of these events on the following. 1. What is the effect on the market for an hour of babysitting services in Middling today, during this increased birthrate? Explain the change, if any in the price of babysitting, and in both the amount of babysitting demanded and supplied, giving your reasons for these changes. (10 points) Having a doubling of birth rate or an increase in birthrate directly demands for more babysitting to be done. A shift to the right in the demand curve will cause an increase in demand at every price. This will cause an increase in the price of babysitting because of the higher needed or demand of babysitting. The new equilibrium price will be higher than the original. The supply of babysitters will increase to make up for the increased demand, and there will be good money to be made during this time for babysitters. 2. What is the effect on the market for an hour of babysitting services 14 years into the future, after the birth rate has returned to normal, by which time children born today, during this increased birthrate, will be old enough to work as babysitters? Explain the change, if any in the price of babysitting, in and both the amount of babysitting demanded and supplied, giving your reasons for these changes. (10 points) Once the years pass by and those babies that were part of the doubling in the birthrate come the age of babysitting, which will cause an increase in the different number of suppliers. This will cause a shift to the right in the of the supply curve there by more babysitters being able to supply at every price. With the demand staying the same and the over abundance of availability in babysitters, they will have to charge lower rate just to be able to get babysitting jobs. This works out well for parents especially on saving money for babysitting services. 3. What is the effect on the market for an hour of babysitting services 30 years into the future, when children born today, during this increased birthrate, will be adults and are likely to be having children of their own? Explain the change, if any in the price of babysitting, and in both the amount of babysitting demanded and supplied, giving your reasons for these changes. (10 points) Now with the amount of parents at the same amount of babies 30 years earlier will cause an increase in the amount of babies now, that will demand the services of babysitters again much like that of 30 years ago. So being that the amount of those same babies 30 years ago born during the doubling birth rate would now be causing a doubling birthrate and cause the same effect as 30 years ago, an increase in the demand in babysitters. I presume that if conditions stay the same this cycle would repeat every 30 years.
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