Q21Labor - Labor Market Equilibrium 82 equilibrium where LD...

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1 L D L S Labor Wage E L E w E Labor Market Equilibrium Labor Market Equilibrium equilibrium where L D = L S excess supply of labor or unemployment downward pressure on wage w > w E unemployment shortage excess demand for labor or shortage upward pressure on wage w < w E 82 L D L S Labor Wage E L E w E Wage Determination Wage Determination equilibrium where L D = L S excess supply of labor or unemployment downward pressure on wage w > w E excess demand for labor or shortage upward pressure on wage w < w E 82 The Gender Gap The Gender Gap 82 Ratio of Female to Male Earnings (Medians) Full-Time, Year-Round Workers Stalled at 60% ’50s-’70s Began to increase again in the 1980s 76% in 2000 Education Job experience Occupational skill Type of industry Title VII of the Civil Rights Act Childcare and home duties Discrimination (structural) Possible Explanations:
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2 Factor Demand Factor Demand factors demanded by profit maximizing firms
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Q21Labor - Labor Market Equilibrium 82 equilibrium where LD...

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