ECON 1BB3 Lecture Notes - Lecture 5: Aggregate Supply, Real Wages

• School: McMaster University
• Department: Economics
• Course: ECON 1BB3
• Professor: Bridget O’shaughnessy

Document Summary

The lfpr is lower for men but the employment rate is higher for men. The lfpr is lower for women but the unemployment rate is higher for women. Roger, a 50 year old bank robber currently in prison. Emily, a 14 year old high school student. In 2000. in the united kingdom,,, the adult population on was about 46. 5 million, the labour force participation rate was 63. 5%, and the unemployment rate was 5. 8 percent. Suppose the government increases the minimum wage from . 4 per hour to per hour. U of t law school tuition /year. Suppose floraw received a 4 percent increase in her nominal wage. Over a year, inflation runs about 7 percent. Flora"s nominal wage decreased and her real wage decreased. Flora"s nominal wage increased and her real wage increased. Flora"s nominal wage decreased and her real wage increased. Flora"s nominal wage increased and her real wage decreased.