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BY WRITING YOUR PPID HERE , YOU INDICATE THAT YOU AGREE TO ABIDE BY THE HONOR PLEDGE : ________________________ Labor Economics Final May 7th, 2007 This exam consists of ten short questions ( worth three points apiece ) and five long questions ( worth twelve points each ) , for a total of 90 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. Ned s annual earnings are determined by the function $ Y = $30,000 + $6,000 ! S , where S is the number of years of education he acquires after high school. At an interest rate of 10 % , how much education should he get? 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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4. Explain how to find a stable match in a ( marriage )
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