ECSENOMICS Chapter 13 The Labor market McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Chapter 13 The Labor Market
ECSENOMICS Wages Have Improved as Hours of Work have Declined T-90 Figure 13-1 Wage rate per hour (constant dollars) Average working hours 70 189019001910192019301940195019601970198019902000 McGraw-Hilllrwin Source: U.S. Department of Commerce
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Wages Have Improved as Hours of Work Have Declined T-90 Figure 13-1 Source: U.S. Department of Commerce
ECSENOMICS Demand for Labor reflects Marginal Productivity T91 Figure 13-2 D Labor inputs McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Demand for Labor Reflects Marginal Productivity T-91 Figure 13-2
ECSENOMICS Favorable Resources, Skills, Management, Capital and Technology Explain High U.S. Wages T92 Figure 13-3 (a) United States (b) Mexico D =3三 点10 S M 33- Quantity of labor Quantity of labor McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. Favorable Resources, Skills, Management, Capital, and Technology Explain High U.S. Wages T-92 Figure 13-3
ECSENOMICS As Wages Rise, Workers May Work Fewer Hours T93 Figure 13-4 0 Quantity of labor McGraw-Hilllrwin CopyrightC 2001 The McGraw-Hill Companies, Inc. All rights reserved
McGraw-Hill/Irwin Copyright © 2001 The McGraw-Hill Companies, Inc. All rights reserved. As Wages Rise, Workers May Work Fewer Hours T-93 Figure 13-4