Labor Market: Supply and Demand by James DeNicco

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About the Lecture

The lecture Labor Market: Supply and Demand by James DeNicco is from the course Principles of Macroeconomics (EN). It contains the following chapters:

  • Labor Market: Supply and Demand
  • Jimmy D's Hoagie Shop
  • Diminishing Returns
  • How Many Workers Do We Hire?
  • Labor Demand
  • Labor Supply
  • Supply vs Demand
  • Decrease in the Working Age Population
  • Unemployment & Minimum Wage

Included Quiz Questions

  1. ...increases output at a decreasing rate.
  2. ...increases output at an increasing rate.
  3. ...increases output at a constant rate.
  4. ...decreases output at an increasing rate.
  1. Larger; smaller
  2. Larger; larger
  3. Smaller; smaller
  4. Smaller; larger
  1. Labor demand will shift right, increasing the equilibrium wage and increasing equilibrium employment.
  2. Labor demand will shift left, decreasing the equilibrium wage and decreasing equilibrium employment.
  3. Labor demand will shift right, decreasing the equilibrium wage and decreasing equilibrium employment.
  4. Labor supply will shift right, decreasing the equilibrium wage and increasing equilibrium employment.
  1. There will be a labor surplus and unemployment will be created.
  2. There will be a labor shortage and unemployment will be created.
  3. Nothing will happen because the wage is not binding.
  4. Unemployment will decrease because workers will have more money.

Author of lecture Labor Market: Supply and Demand

 James DeNicco

James DeNicco


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