Explain what type of wage rigidity is most likely to affect the unemployment rates of the...
Explain what type of wage rigidity is most likely to affect the unemployment rates of the following types of workers:
a. workers with low marginal labor productivity,
b. workers in the construction trades, such as plumbers and electricians,
c. workers engaged in creative work that is not easily monitored.
Homework Answers
Answer: Workers with low marginal labour productivity (a).
Explanation:
a. The minimum wage shall be related to workers with low marginal labor productivity.
b. Workers looking for positions that are traditionally unionised would benefit when they research in employers from union wages.
c. Creators who do not easily track work will get a wage of productivity because of their innovation.
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