Over the last 50 years, how has the women's labor force ...

[Jipu 123]

Over the last 50 years, how has the women's labor force participation rate changed? What are reasons for this change?
 
  What will be an ideal response?

Question 2

In the figure above, if the price is 8 a unit, is there a shortage or surplus and what is the amount of any shortage or surplus?
 
  What will be an ideal response?

[joewallace]

Answer to Question 1

Over the past 50 years, the women's labor force participation rate has increased. Four reasons can be advanced for the increase. First, more women are graduating from college. As college graduates, their salaries are higher and these higher salaries have attracted women to the labor force. Second, technological change has created a large number of white collar jobs with flexible hours, jobs women find attractive. Third, technological change in the home has decreased the amount of time necessary to do some tasks around the house and hence increased the amount of time some women can offer to the paid workplace. Finally, more families have felt the need to have two incomes in order to bolster tight budgets.

Answer to Question 2

At a price of 8 there is a surplus because the quantity supplied exceeds the quantity demanded. The amount of the surplus is 4 units per month.

[Jipu 123]

TYSM

[juliaf]

Thanks for the timely response, appreciate it