Beruflich Dokumente
Kultur Dokumente
Semester 1, 2016
Tutorial 2 (Week 4)
Questions:
1. Fill in the table below, which gives historical data for the United States.
Year
1955
1965
1975
2.
Total
Employment
(millions)
Unemployment
Rate(%)
71.1
85.8
4.4
4.5
Labour Force
Participation
Rate (%)
59.3
58.9
61.2
Working-Age
Population
(millions)
109.7
153.1
The table shows the demand for and supply of skilled labour at different real hourly
wages of a fictitious economy.
Demand for Labour
Wage/Hour
Quantity
$12
75
14
68
16
61
18
54
20
47
22
40
Supply of Labour
Wage/Hour
Quantity
$12
47
14
54
16
61
18
68
20
75
22
82
Total
Employment
(millions)
Unemployment
Rate(%)
71.1
85.8
4.4
4.5
Labour Force
Participation
Rate (%)
59.3
58.9
61.2
Working-Age
Population
(millions)
109.7
153.1
The table shows the demand for and supply of skilled labour at different real hourly
wages of a fictitious economy.
Demand for Labour
Wage/Hour
Quantity
$12
75
14
68
16
61
18
54
20
47
22
40
Supply of Labour
Wage/Hour
Quantity
$12
47
14
54
16
61
18
68
20
75
22
82
Total
Employment
(millions)
Unemployment
Rate(%)
71.1
85.8
4.4
4.5
Labour Force
Participation
Rate (%)
59.3
58.9
61.2
Working-Age
Population
(millions)
109.7
153.1
The table shows the demand for and supply of skilled labour at different real hourly
wages of a fictitious economy.
Demand for Labour
Wage/Hour
Quantity
$12
75
14
68
16
61
18
54
20
47
22
40
Supply of Labour
Wage/Hour
Quantity
$12
47
14
54
16
61
18
68
20
75
22
82
Total
Employment
(millions)
Unemployment
Rate(%)
71.1
85.8
4.4
4.5
Labour Force
Participation
Rate (%)
59.3
58.9
61.2
Working-Age
Population
(millions)
109.7
153.1
The table shows the demand for and supply of skilled labour at different real hourly
wages of a fictitious economy.
Demand for Labour
Wage/Hour
Quantity
$12
75
14
68
16
61
18
54
20
47
22
40
Supply of Labour
Wage/Hour
Quantity
$12
47
14
54
16
61
18
68
20
75
22
82
Total
Employment
(millions)
Unemployment
Rate(%)
71.1
85.8
4.4
4.5
Labour Force
Participation
Rate (%)
59.3
58.9
61.2
Working-Age
Population
(millions)
109.7
153.1
The table shows the demand for and supply of skilled labour at different real hourly
wages of a fictitious economy.
Demand for Labour
Wage/Hour
Quantity
$12
75
14
68
16
61
18
54
20
47
22
40
Supply of Labour
Wage/Hour
Quantity
$12
47
14
54
16
61
18
68
20
75
22
82
Total
Employment
(millions)
Unemployment
Rate(%)
71.1
85.8
4.4
4.5
Labour Force
Participation
Rate (%)
59.3
58.9
61.2
Working-Age
Population
(millions)
109.7
153.1
The table shows the demand for and supply of skilled labour at different real hourly
wages of a fictitious economy.
Demand for Labour
Wage/Hour
Quantity
$12
75
14
68
16
61
18
54
20
47
22
40
Supply of Labour
Wage/Hour
Quantity
$12
47
14
54
16
61
18
68
20
75
22
82
Total
Employment
(millions)
Unemployment
Rate(%)
71.1
85.8
4.4
4.5
Labour Force
Participation
Rate (%)
59.3
58.9
61.2
Working-Age
Population
(millions)
109.7
153.1
The table shows the demand for and supply of skilled labour at different real hourly
wages of a fictitious economy.
Demand for Labour
Wage/Hour
Quantity
$12
75
14
68
16
61
18
54
20
47
22
40
Supply of Labour
Wage/Hour
Quantity
$12
47
14
54
16
61
18
68
20
75
22
82