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The Labor Market
Plan of the Text
The Demand for Labor
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analysis average behavior Chapter compensating wage differentials constraint contract decisions demand curve demand for labor discussion earnings elasticity of demand employed employment levels equation equilibrium estimates example expected factors federal Figure firm fringe benefits hiring human capital immigration incentives income effect incomes policies indifference curves individuals industries investments isoprofit curve isoquant Labor Economics labor force labor market labor supply layoffs leisure less marginal cost marginal product marginal revenue market discrimination minimum wage nonunion occupational offer Orley Ashenfelter output overtime paid pension percent percentage period present value price inflation profits public employees public sector rate of wage real wage reduce relative retirement risk shift social studies substitution effect supply curve Suppose Table teenagers tend theory things equal U.S. Government Printing unemployed unemployment rate United utility wage increases wage inflation wage rate women workers