How do you expect the new training programs to affect the Rhode Island labor market?

Jobs for Rhode Island! (4 pages) Rhode Island has just gotten a grant from the federal government fo Show more Jobs for Rhode Island! (4 pages) Rhode Island has just gotten a grant from the federal government for job training. The state is working with employers to set up training programs suited to the skilled jobs that RI employers want to fill. Can you help me understand the economics of this training effort? a. Holding all else constant would you expect more training slots to be created with a lump sum grant for job training or a matching grant for job training? Explain why? b. Which type of grant would be better for the state assuming that the state government knows best what the state needs and wants? c. How do you expect the new training programs to affect the Rhode Island labor market? i. Suppose you split the RI labor market into two markets: skilled and unskilled. Will the direct effects be the same on both markets? Will there be indirect effets? Explain. ii. Would your predictions be different if the state of Rhode Island paid for the training programs using revenue from an increase in some sort of tax on the states businesses? Explain. iii. As noted the state is working with employers to develop the training opportunities. How does this aspect of the states training program affect your predictions for the training effort as an economic development effort? (Hint: Consider localization and urbanization economies.) Show less

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