laborsupplydemandunemployment-hkusthomepagesearch-.ppt

Labor Supply, Demand Unemployment Mid-term Exam Tuesday, October 12th 9AM Lecture Theater E Semi-open Book Bring 1 A4 size paper with handwritten notes Coverage. Lecture notes including this one. Hours per Worker 2005 This section will follow Branson, Chapter 6, 105-121 Williamson, Chapter 4, 90-130 Williamson, Chapter 15, 539-557 Romer, Chapter 4, Section 4 Chapter 9 Labor Demand Output is a diminishing function of labor holding the capital stock constant. The marginal product of labor is the slope of the production function. The slope is diminishing as labor increases. We can map a f