Since the September 11th attack there has been an increase in the demand for security personnel: police, air marshals, airport security, etc. How do you think the higher demand has affected the equilibrium wage? In which direction do you think the labor supply and demand shifted? Explain your reasoning.© BrainMass Inc. brainmass.com October 24, 2018, 9:52 pm ad1c9bdddf
The equilibrium wage rate is the price of labor services, is determined in the labor market. The higher demand for security personnel means the demand for security personnel shifts to the right, in other words for the same labor higher wages are offered. The supply at least in the short run remains stable and there is a movement along the upward rising part of the labor supply curve. Statistical evidence shows that increase in the demand for security personnel leads to an increase in the wages of unskilled labor. However, in this case there will be several unemployed persons who will obtain the required training and join the security services.
In the time it takes unemployed ...
This solution reviews the concept of equilibrium wage. It asserts that the equilibrium wage has been affected by the events of the September 11th attack. This solution is 470 words.
Airline Industry Research
Please assist with the following industry research paper including eight references.
Write 1,750- to 2,450-words in APA format that provides an economic profile of the airline industry. Discuss how the following impact the industry.
o Shifts and price elasticity of supply and demand
o Positive and negative externalities
o Wage inequality
o Monetary and fiscal policies
Conclude with final thoughts on:
o How the economy affects the success of your chosen industry
o Economic influences that can affect the industry in a negative way