Homework #1

# Problem 2 a b 76000 160 c 82000 120 the demand has

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Problem #2 a. b. \$76,000, 160 c. \$82,000, 120 The demand has not changed. Just its relationship to this supply. Problem #4 a. 9,823,000 – 3,340,000 = 6,483,000 adults in the labor force. 6,483,000 – 6,094,000 = 389,000 unemployed adults b. (6,483,000/9,823,000)*100 = 65.99% labor force participation rate (389,000/6,483,000)*100 = 6% unemployment rate Problem #6

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a. b. \$6.00/hr, 150 people c. \$7.00/hr, 160 people Chapter 3 Review #6 a. The wage rate would remain unchanged b. The net wage would decrease since the women are being paid less than they’re worth to the employer

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