Income and Substitution Effects in Labor Economics: Difference between revisions

Latest revision as of 07:54, 4 May 2006

Man is so made that he can only find relaxation from one kind of labor by taking up another.

Anatole France, The Crime of Sylvestre Bonnard

French novelist (1844 - 1924)

I like work: it fascinates me. I can sit and look at it for hours.

Jerome K. Jerome, "Three Men in a Boat", 1889

British humor writer (1859 - 1927)

Authors: Anastasov, Milen Gencheva, Eva Ross, Benjamin

@@ Line 1: / Line 1: @@
-==income effect==
+{{menu}}
-The macroeconomics of labour markets
+<br>
-The labour force is defined as the number of people employed plus the number unemployed but seeking work. The participation rate is the number of people in the labour force divided by the size of the adult population (or by the population of working age). The unemployment level is defined as the labour force minus the number of people currently employed. The unemployment rate is defined as the level of unemployment divided by the labour force. The employment rate is defined as the number of people currently employed divided by the adult population (or by the population of working age). In these statistics, self-employed people are counted as employed.
+''Man is so made that he can only find relaxation from one kind of labor by taking up another.''
+Anatole France, The Crime of Sylvestre Bonnard
+French novelist (1844 - 1924)
+''I like work: it fascinates me. I can sit and look at it for hours.''
+Jerome K. Jerome, "Three Men in a Boat", 1889
+British humor writer (1859 - 1927)<center>[[Image:Grad.gif|thumb|Description]] </center>
+<center>'''Authors:'''</center>
+<center> ''Anastasov, Milen'' </center>
+<center>''Gencheva, Eva'' </center>
+<center>''Ross, Benjamin'' </center>