Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-1 At Full Employment: The Classical Model CHAPTER 23.

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Presentation transcript:

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-1 At Full Employment: The Classical Model CHAPTER 23

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-2 FIGURE 23.1 (a) Production Possibilities and the Production Function

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-3 FIGURE 23.1 (b) Production Possibilities and the Production Function

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-4 FIGURE 23.2 The Demand for Labor

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-5 FIGURE 23.2 (tbl) The Demand for Labor

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-6 FIGURE 23.3 (a) Marginal Product and the Demand for Labor

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-7 FIGURE 23.3 (b) Marginal Product and the Demand for Labor

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-8 FIGURE 23.4 The Supply of Labor

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley 23-9 FIGURE 23.4 (tbl) The Supply of Labor

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE 23.5 Labor Market Equilibrium

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE 23.6 (a) The Labor Market and Potential GDP

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE 23.6 (b) The Labor Market and Potential GDP

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE 23.7 Job Search Unemployment

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE 23.8 The Demand for Loanable Funds

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE 23.8 (tbl) The Demand for Loanable Funds

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE 23.9 The Supply of Loanable Funds

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE 23.9 (tbl) The Supply of Loanable Funds

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE Equilibrium in the Loanable Funds Market

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE (a) Full Employment in the United States: 1986 and 2005

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley FIGURE (b) Full Employment in the United States: 1986 and 2005

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley Reading between the lines Figure 1 Labor markets in 2005

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley Reading between the lines Figure 2 Production functions in 2005

Copyright © 2008 Pearson Education, Inc. Publishing as Pearson Addison-Wesley THE END