laborexam3f05 - Labor Examination 3 13th of December 2005...

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Labor Examination 3 13 th of December 2005 This exam consists of ten short questions ( worth three points apiece ) and six long questions ( worth fifteen points each ) , for a total of 120 points. You have 120 minutes to answer all completely and clearly in the space provided. Short Questions 1. Suppose that the population of this country is 100 million. Of these people, 25 million are not working, but only 15 million are considered unemployed. Calculate the labor force participation rate and the unemployment rate . 2. Name the three elasticities associated with labor supply, and describe what each one measures. 3. In the past, The Swedish government allowed parents to take a combined paternity and maternity leave of two years to take care of children. Because wives often took the full two years from work and husbands took no time off from work, this government changed the policy. Now, spouses must take equal leave for childcare. From the perspective of household production, does this policy make sense? Why or why not?
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Page 2 of 9 4. Explain the procedure for finding a stable match in a ( marriage ) market without transferable utility. 5. Who benefits or loses from a low elasticity of demand for labor, and under what
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laborexam3f05 - Labor Examination 3 13th of December 2005...

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