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: @@
-==Labor Economics==
+{{menu}}
+<br>
-Labour economics seeks to understand the functioning of the market for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demanders of labour services (employers), and attempts to understand the resulting pattern of wages, employment, and income.
+''Man is so made that he can only find relaxation from one kind of labor by taking up another.''
-It is an important subject because unemployment is a problem that affects the public most directly and severely. Full employment (or reduced unemployment) is a goal of many modern governments.
+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>