Questions from Managerial Economics

Q: A relatively recent trend in most developed countries, including the United

A relatively recent trend in most developed countries, including the United States, is the creation of single-person households. Discuss the short- and long-run consequences of this trend on residenti...

Q: Assume that the marginal product of labor is MPL = 0.

Assume that the marginal product of labor is MPL = 0.65 * $13>L, where output is measured in trillions and L is the number of workers (in millions). a) Draw the MPL curve. b) Find the quantity of work...

Q: The natural rate of unemployment is higher in France than in the

The natural rate of unemployment is higher in France than in the United States. Suppose you are a recent college graduate and you are eager to find a job. Which country’s labor market seems more promi...

Q: Anthony currently earns $25 an hour and works forty hours a

Anthony currently earns $25 an hour and works forty hours a week. When his boss offers to pay him $28 per hour, Anthony decides to accept the offer and also decides to keep working forty hours. What i...

Q: Using a graph, analyze the effect of technological advances that have

Using a graph, analyze the effect of technological advances that have increased workers’ productivity in the last few decades (e.g., the Internet) on the labor market. What will be the effect on the r...

Q: Go to the St. Louis Federal Reserve FRED database, and

Go to the St. Louis Federal Reserve FRED database, and find data on the most recent values for Personal Income (PINCOME), Disposable Personal Income (DPI), and Personal Consumption Expenditures (PCEC)...

Q: Using a graph, analyze the effect of a recession and an

Using a graph, analyze the effect of a recession and an increase in day care costs on the real wage and employment.

Q: For each of the following situations, explain how the labor force

For each of the following situations, explain how the labor force and the unemployment rate change. a) An individual quits his or her job and does not look for a job anymore. b) An individual who was...

Q: During recessions, it becomes increasingly difficult to find a job.

During recessions, it becomes increasingly difficult to find a job. How do you think the number of “discouraged workers” would be affected by a recession?

Q: Discuss the effects of the Internet on frictional unemployment. How do

Discuss the effects of the Internet on frictional unemployment. How do you think websites that allow employees to search for job opportunities more efficiently impact frictional unemployment?