Labor Market: Supply and Demand
Über den Vortrag
Der Vortrag „Labor Market: Supply and Demand“ von James DeNicco ist Bestandteil des Kurses „Principles of Macroeconomics (EN)“. Der Vortrag ist dabei in folgende Kapitel unterteilt:
- 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
Quiz zum Vortrag
According to the principle of diminishing returns, if the amount of capital and other inputs are held constant, adding an additional worker…
- ...increases output at a decreasing rate.
- ...increases output at an increasing rate.
- ...increases output at a constant rate.
- ...decreases output at an increasing rate.
With an increase in wages, the “substitution effect” induces a ________________ supply of labor and the “income effect” induces a ________________ supply of labor.
- Larger; smaller
- Larger; larger
- Smaller; smaller
- Smaller; larger
Which of the following will occur as a country's work force becomes more skilled?
- Labor demand will shift right, increasing the equilibrium wage and increasing equilibrium employment.
- Labor demand will shift left, decreasing the equilibrium wage and decreasing equilibrium employment.
- Labor demand will shift right, decreasing the equilibrium wage and decreasing equilibrium employment.
- Labor supply will shift right, decreasing the equilibrium wage and increasing equilibrium employment.
Which of the following will occur if a minimum wage is implemented above the market-clearing wage (equilibrium)?
- There will be a labor surplus and unemployment will be created.
- There will be a labor shortage and unemployment will be created.
- Nothing will happen because the wage is not binding.
- Unemployment will decrease because workers will have more money.
Dozent des Vortrages Labor Market: Supply and Demand
James DeNicco
Dr. DeNicco graduated from Drexel University in 2013. His primary field is Macroeconomics and his secondary field is Industrial Organization. His primary research interests are in Macroeconomics and applied Macroeconomics, especially the relationship between GDP growth and labor dynamics.
His focus is on jobless recovery, which explores the speed of recovery in unemployment rates post recession, controlling for GDP growth. He is currently an Assistant Professor at the University of Tampa, where he teaches both Macroeconomics and Microeconomics.
Dr. DeNicco also does work as a Research Associate for the Center for Labor Markets and Policy. In that role he has conducted extensive work with BLS and BEA data regarding estimation and forecasting techniques used by the Massachusetts Governor’s Office and the Rhode Island Department of Labor.
In addition, he collaborates on research identifying the determinants of successful transitions from high school to college and persistence in college, with the goal of identifying major transition barriers needing either program or policy intervention.
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