cycles of economic expansion and contraction

variations in fertility across generations.

major innovations followed by imitation and further improvements

alternating historical periods of economies and diseconomies of scale.

unions demand improved working conditions

unions have a stronger preference for high wages than low unemployment

unions have a stronger preference for reducing unemployment than increasing wages

employers offer to pay higher wages for longer hours of work

more elastic because demand is heterogeneous

less elastic because demand is heterogeneous

more elastic because of the possibility of moving between being out of the labour force and being in the labour force

less elastic because of transitions between being out of the labour force and being in the labour force

shifts downwards if workers’ preference for leisure increases

shifts to the left if there is technological progress in production.

shifts to the right if there is technological progress in production.

is not affected by technological progress in production

employment will increase and involuntary unemployment will decrease

both employment and involuntary unemployment will decrease

employment will decrease with no change in involuntary unemployment

employment will decrease and involuntary unemployment will increase