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.
Add Answer to:
Explain what type of wage rigidity is most likely to affect the
unemployment rates of the...
can someone explain please Question 5 0/2 pts Which of the following is most likely to...
can someone explain please
Question 5 0/2 pts Which of the following is most likely to cause an increase in the inflation rate? a reduction in the percentage of workers who are in labor unions an increase in competition between firms an increase in the non-labor costs of production an increase in the unemployment rate Rising unemployment tends to put downward pressure on wages and prices. In the figure below, when employment is at the level at point C, the...
Assume that there are two types of workers in a perfectly competitive labour marker: type H...
Assume that there are two types of workers in a perfectly competitive labour marker: type H is the high ability worker with lifetime productivity of $550,000 and type L is the low ability worker with lifetime productivity of $370,000. Suppose 60 percent of the workers are type H and 40 percent are type L. Both types already have 9 years of schooling. Also, further education can be used as a signal for productivity in the labour market. In this case,...
12. Sectoral shifts A. lead to wage rigidity B. explain the payment of efficiency wages C....
12. Sectoral shifts A. lead to wage rigidity B. explain the payment of efficiency wages C. depend on the level of the minimum wage D. make frictional employment inevitable 13. The Solow growth model describes A. how output is determined at a point in time B. how output is determined with fixed amounts of capital and labor C. how saving, population growth, and technological change affect output over time D. the static allocation, production, and distribution of the economy's output...
Q1. How does Structural Unemployment explain current trends in Labor Force Participation rates? What is the...
Q1. How does Structural Unemployment explain current trends in Labor Force Participation rates? What is the role of outsourcing and how does it fit with the U.S. economy becoming a “service’ economy? Q2. Explain how “discouraged workers” (unemployed workers leaving the labor force) lower the official unemployment rate. ‘Real’ wages being stagnant, what does the low unemployment rate mean? Q3. Describe the economic impact of the Covid-19 pandemic in terms of globalized supply chains. Mention particular sectors and industries that...
The national minimum wage is $7.25 per hour for most occupations in the private sector. Over...
The national minimum wage is $7.25 per hour for most occupations in the private sector. Over the past several years, support for an increase in the minimum wage has come from a wide variety of sources. Many of those who support an increase in the minimum wage believe this is one way the government should exercise its social responsibility in an attempt to reduce poverty. The following items address the idea of raising the minimum wage from the current federal...
59. Market equilibrium A market equilibrium is a quantity-price pair in which: A. The government equates the selling and buying price of The price is such that the quantity demanded is equal to t...
59. Market equilibrium A market equilibrium is a quantity-price pair in which: A. The government equates the selling and buying price of The price is such that the quantity demanded is equal to the The level of happiness among people is as high as possible. supplied quantity supp A price increase would cause people to want to buy 1 of the good. E. The supply curve and demand curve are equivalent. The Marginal Product of Labor (MPL) is equal to...
Synthesis of Soap What factors are most likely to affect the percent yield? Explain why it...
Synthesis of Soap What factors are most likely to affect the percent yield? Explain why it may be high or low: Unreacted glyceryl tripalmitate Unreacted sodium hydroxide The sample is too dry. The sample is still wet. Sample lost during filtration
D Question 10 1.5 pts What is not true about involuntary unemployment? It is also known...
D Question 10 1.5 pts What is not true about involuntary unemployment? It is also known as excess supply in the labor market Some workers are coerced to work Some unemployment is necessary, which means the employer can motivate workers to provide effort on the job. the wage-setting curve is always to the left of the labor supply curve Question 9 Profit-maximizing condition for the firm occurs when marginal rate of substitution equals marginal rate of transformation There is no...
The United States of America’s national minimum wage is currently at $7.25 per hour for most...
The United States of America’s national minimum wage is currently at $7.25 per hour for most occupations in the private sector. Over the past several years, support for an increase in the minimum wage has come from a wide variety of sources. Many of those who support an increase in the minimum wage believe this is one way the government should exercise its social responsibility in an attempt to reduce poverty. The following items address the idea of raising the...
Please type a detailed analysis! Thanks so much! Question 5: The following question considers the possibility that employer-provided health insurance reduce:s job mobility -a phenomenon that has bee...
Please type a detailed analysis! Thanks so much!
Question 5: The following question considers the possibility that employer-provided health insurance reduce:s job mobility -a phenomenon that has been termed job lock. Job lock prevents workers from transitioning to jobs in which their marginal productivity would be higher than at their current jobs. Consider three workers with the following preferences where Wij is the wage at job j for worker i, Hij is an indicator/dummy variable (i.e., it takes on a...
can someone explain please
Question 5 0/2 pts Which of the following is most likely to cause an increase in the inflation rate? a reduction in the percentage of workers who are in labor unions an increase in competition between firms an increase in the non-labor costs of production an increase in the unemployment rate Rising unemployment tends to put downward pressure on wages and prices. In the figure below, when employment is at the level at point C, the...
Assume that there are two types of workers in a perfectly competitive labour marker: type H is the high ability worker with lifetime productivity of $550,000 and type L is the low ability worker with lifetime productivity of $370,000. Suppose 60 percent of the workers are type H and 40 percent are type L. Both types already have 9 years of schooling. Also, further education can be used as a signal for productivity in the labour market. In this case,...
59. Market equilibrium A market equilibrium is a quantity-price pair in which: A. The government equates the selling and buying price of The price is such that the quantity demanded is equal to the The level of happiness among people is as high as possible. supplied quantity supp A price increase would cause people to want to buy 1 of the good. E. The supply curve and demand curve are equivalent. The Marginal Product of Labor (MPL) is equal to...
D Question 10 1.5 pts What is not true about involuntary unemployment? It is also known as excess supply in the labor market Some workers are coerced to work Some unemployment is necessary, which means the employer can motivate workers to provide effort on the job. the wage-setting curve is always to the left of the labor supply curve Question 9 Profit-maximizing condition for the firm occurs when marginal rate of substitution equals marginal rate of transformation There is no...
Please type a detailed analysis! Thanks so much!
Question 5: The following question considers the possibility that employer-provided health insurance reduce:s job mobility -a phenomenon that has been termed job lock. Job lock prevents workers from transitioning to jobs in which their marginal productivity would be higher than at their current jobs. Consider three workers with the following preferences where Wij is the wage at job j for worker i, Hij is an indicator/dummy variable (i.e., it takes on a...
Most questions answered within 3 hours.
-
Assume that the population of Mexico is 128
million and that the population increases 1.01
percentannually....
asked 3 minutes ago -
Can someone please help me add appropriate descriptive
comments to each line of code in the...
asked 9 minutes ago -
Romeo wishes to throw a bouquet of flowers to Juliet, who is on
a second-story balcony,...
asked 1 hour ago -
Why is QE a controversial monetary policy tool.
A. It may lead to excessive inflation.B. By...
asked 1 hour ago -
Principles of Programming midterm study guide help!
1.)
______ Which of the following would reference the...
asked 53 minutes ago -
A finite potential well has depth U0 = 2.78 eV . What is the
penetration distance...
asked 1 hour ago -
1. The bus bars of a power station are in two sections A and B
separated...
asked 1 hour ago -
Fiscal policy is the deliberate manipulation of taxes and
government spending to alter GDP, employment, inflation...
asked 2 hours ago -
evaluating an expression using only one digit and + and - as
operators ....3+5-1+7-5+8
-----------------------
stack...
asked 2 hours ago -
Two concentric current loops lie in the same plane. The smaller
loop has a radius of...
asked 3 hours ago -
1)Which of the following is an
important difference between qualified and nonqualified retirement
plans?
a. Qualified...
asked 3 hours ago -
What's the streaming business's problem on the
horizon?
asked 4 hours ago