Effect of wages on productivity
Effect of wages on productivity
Homework Answers
Productivity refers to the output per unit of input. There are a number of factors affecting productivity. Wage is one of the most important factors affecting productivity. Higher wage motivates people to put more effort s in work and be more efficient to increase productivity. Also, higher wage enable a person to spend on acquiring new skills, which in turn increases productivity. On the other hand, lower wage diminishes productivity.
Suppose there is a permanent increase in total factor productivity. Show what will happen to wages...
Suppose there is a permanent increase in total factor productivity. Show what will happen to wages and the equilibrium quantity of labor using a graph of the labor market. Explain. Why is your answer different from problem number (3)?
Because firms believe that lower wages will lead to reduced worker morale and lower productivity when...
Because firms believe that lower wages will lead to reduced worker morale and lower productivity when a negative shock hits, a. firms tend to increase employment b. firms tend to lay-off workers in addition to lowering wages c. firms tend increase employment in addition to lowering wages d. firms tend to lay-off workers rather than lower wages
True, False, or Uncertain: Increases in productivity lead to lower wages because firms don’t need as...
True, False, or Uncertain: Increases in productivity lead to lower wages because firms don’t need as many workers as before to produce the same number of goods. Explain Why this is or is not true
Other things held constant, investment in physical capital will increase: labor productivity. national income. wages. all...
Other things held constant, investment in physical capital will increase: labor productivity. national income. wages. all of the above
If productivity increases by 12% but wages increase by 7%, then it is most likely that: A. aggregate supply will shift l...
If productivity increases by 12% but wages increase by 7%, then it is most likely that: A. aggregate supply will shift left B. aggregate supply will shift right C. aggregate supply will not shift D. aggregate demand will shift left
Examine the effect(s) of migrant population on productivity and economic growth in the United States. (8...
Examine the effect(s) of migrant population on productivity and economic growth in the United States. (8 points)
Explain how a permanent decrease in productivity would effect the capital market. Explain how the mentioned...
Explain how a permanent decrease in productivity would effect the capital market. Explain how the mentioned shock alters user cost, MPK,K,I,S,r. Explain answers graphically.
Management's snooping can raise worker wages because it can Select one: O a. increase overall worker productivity b...
Management's snooping can raise worker wages because it can Select one: O a. increase overall worker productivity by reducing shirking. O b. undercut worker morale. c. be distasteful to workers causing a reduction in the number of workers wanting to work. d. A and C
7. Explain what effect a reduction in productivity has on wage setting behavior, price setting behavior,...
7. Explain what effect a reduction in productivity has on wage setting behavior, price setting behavior, the equilibrium real wage, the natural rate of unemployment, and the natural level of output. 8. When (exact time and date) is the final for this class? Where will it be held?
The substitution effect shows a shows a relationship relationship between wages and hours worked, whereas the...
The substitution effect shows a shows a relationship relationship between wages and hours worked, whereas the income effect negative; positive O negative; negative positive; negative O positive positive
Management's snooping can raise worker wages because it can Select one: O a. increase overall worker productivity by reducing shirking. O b. undercut worker morale. c. be distasteful to workers causing a reduction in the number of workers wanting to work. d. A and C
7. Explain what effect a reduction in productivity has on wage setting behavior, price setting behavior, the equilibrium real wage, the natural rate of unemployment, and the natural level of output. 8. When (exact time and date) is the final for this class? Where will it be held?
The substitution effect shows a shows a relationship relationship between wages and hours worked, whereas the income effect negative; positive O negative; negative positive; negative O positive positive
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