Question 1: (20) Access the latest Labour Force Survey data from Statistics Canada website and calculate Labour force participation rate, employment rate, unemployment rate for all, men and women separately. Show your calculation and mention the time period of the data you used. Represent your result in a table. Question 2: (30) Assume the following regression model: Lru = 10}/;_, I ]-E'Y'u-' = O-GUH Where L, is the labour force participation rate of women (measured in percentage, L, = 35), Y, and Y), is the average income of spouse and women (measured in thousand dollars, Y}, = 10 and Y, = 6), and wuy, is the spouse unemployment rate, up = 6. Page10f 2 ECON 481: Labour Economics: Assignment-1 Deadline: May 17, 2024 Part (a): What is the expected effect of a decrease of $10000 in the income of the spouse on the participation rate of women? Part (b): What is the expected effect of an increase of $5000 in the income of women them- selves on the participation rate of women? Part (c): Break the latter down into its separate income and substitution effects Part (d): Given the magnitude of the latter two effects, what would be the impact on female participation of an equal pay policy that increased the expected wages of females by $1000 while at the same time decreasing the expected earnings of their spouses by $1000? Part (e): Calculate the pure income and the gross or uncompensated wage elasticities of par- ticipation, evaluated at the means. Part (f): Does this equation shed any light on why the labor force participation of married women has increased over time, even though their non-labor wage has also increased? Question 3: (25) Let's assume that woman has a wage rate of $15 per hour and that her spouse's em- ployer has forced them to take a pay cut of $s5, from $25 per hour to $20 per hour, but allowed to continue working at 40 hours per week. Using income-leisure frame- work, Consider two approaches: Part (a): At first, take the spouses hours given, and analyze the household choice over con- sumption and woman's leisure. Part (b): Second, focus on the choice of spouse versus woman's labour supply, allowing both to adjust their hours, and putting the consumption decision in the background. Part (c): Compare the pros and cons proaches to compare the impact on sation for the spouse equal to $200 p hches. In particular, use the two ap- r supply of unemployment compen