Exam 2: Labor Supply

Of the 500,000 people (age 16+) in a particular country, 300,000 people are in the labor force.Of these, 240,000 are employed and 60,000 are unemployed.What is the unemployment rate?

Which of the following is not a property of standard indifference curves in a leisure-consumption model?

Prior to an expanded child care subsidy program in Illinois, the labor force participation rate of single mothers in Illinois was 45% and in Wisconsin was 48%.After Illinois expanded its child care subsidy program, the participation rate increased to 58% in Illinois and to 51% in Wisconsin.The expanded child care program in Illinois is estimated to increase labor force participation of single mothers by how much according to a difference-in-differences estimator?

Fertility in the U.S.declined in the last 100 years primarily because

The Earned Income Tax Credit is a federal program that

What is the added worker effect?

The intertemporal substitution hypothesis suggests that hours of work should

When the wage was $10 per hour, a group of workers supplied 30 hours of work per week on average.The wage then increased to $12 per hour, and the same group of workers supplied 33 hours of work per week on average.What is the elasticity of labor supply for this group of workers?

According to the income effect, an increase in the wage rate will lead the worker to

The reservation wage likely increases when