7 problems and applications q7 the following graph

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7. Problems and Applications Q7 The following graph shows a labor market with a binding minimum wage True or False: The amount of unemployment in this industry falls as a result of the decrease in the minimum wage.
8. Problems and Applications Q8
Consider an economy with two labor markets: one for manufacturing workers and one for service workers. Suppose initially that neither is unionized. Which of the following will happen to the manufacturing labor market if manufacturing workers formed a union? Check all that apply. Which of the following describes the effect of the changes in the manufacturing labor market on the market for service workers, which is not unionized? Check all that apply. 9. Problems and Applications Q9 Structural unemployment is sometimes said to result from a mismatch between the job skills that employers want and the job skills that workers have. To explore this idea, consider an economy with two industries: auto manufacturing and aircraft manufacturing. Assume that workers in these two industries require similar amounts of training, and they can choose which industry to train for at the beginning of their careers. True or False: Wages in the auto manufacturing industry would be less
Suppose that one day the economy opens itself to international trade and, as a result, starts importing autos and exporting aircraft.
Suppose that workers in one industry cannot be quickly retrained for the other. Which of the following accurately describes the effects of the shifts in demand on the equilibrium wages in the two industries? Check all that apply
10. Problems and Applications Q10 Suppose that Congress passes a law requiring employers to provide employees some benefit (such as healthcare) that raises the cost of an employee by $2 per hour. Assume that firms were not providing such benefits prior to the legislation.
True or False: Employers and employees are made worse off by this law.
-Suppose that, before the mandate, the wage in this market was $1 above the minimum wage. In this case, the wage rate with the employer mandate will be $9 per hour, which will lead to a decrease in the level of employment and an increase the level of unemployment. in ---------- -Now suppose that workers do not value the mandated benefit at all. Which of the following statements are true under this circumstance? Check all that apply.

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