The figure on the right depicts the labor market in equilibrium with employment at 100 million jobs. (Enter your response as an integer.) Suppose traditional monetary and fiscal policy has had only limited success in promoting higher employment. Governments sometimes seek to directly stimulate hiring by the private sector by engineering a shift in the labor demand curve. In the graph of the market, suppose the government seeks to directly stimulate the employment of an additional 20 million workers. 1.) Using the line drawing tool, shift the demand curve such that this employment target is achieved. Carefully follow the instructions above and only draw the required object. According to your graph, the targeted increase in employment can be achieved with the payment of a subsidy to employers of $ per worker. (Enter your response as an integer.) Wage 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 20 The Labor Market Labor supply curve Labor demand curve 40 60 80 100 120 140 160 180 200 Quantity of labor (millions)

The figure on the right depicts the labor market in equilibrium with employment at 100 million jobs. (Enter your response as an integer.) Suppose traditional monetary and fiscal policy has had only limited success in promoting higher employment. Governments sometimes seek to directly stimulate hiring by the private sector by engineering a shift in the labor demand curve. In the graph of the market, suppose the government seeks to directly stimulate the employment of an additional 20 million workers. 1.) Using the line drawing tool, shift the demand curve such that this employment target is achieved. Carefully follow the instructions above and only draw the required object. According to your graph, the targeted increase in employment can be achieved with the payment of a subsidy to employers of $ per worker. (Enter your response as an integer.) Wage 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 20 The Labor Market Labor supply curve Labor demand curve 40 60 80 100 120 140 160 180 200 Quantity of labor (millions)

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 46P: A government passes a family-friendly law that no companies can have evening, nighttime, or weekend...

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