Problem
First, read the case study regarding COVID-19 . Then use the labor market concepts in Section 4.1 of the text to answer the questions about the case study.
A. What is happening to the supply of women who are part of the workforce? What has motivated this change? Describe how different parts of the economy may have experienced shifts and changes in supply and demand. Provide at least two examples.
B. What has happened to demand in the workforce? Was this a shift in demand or a movement along the demand curve? Again, describe the effects on at least two different sectors of the economy.
C. How does the wage gap between women and men factor into the change in supply and demand in this case?
D. The book discusses how labor is derived demand. Thinking about the services demanded by families with two working parents, which sectors will be most affected by the trend of women opting out of the workforce?