Explain the ethical and economic implications of paying above-market wages to factory workers in developing countries.
Explain the ethical and economic implications of paying above-market wages to factory workers in developing countries.
Homework Answers
Actually, when workers will get above the market wages then definitely there will be some improvement into their living standards as they have more money to spend. Apart from this , they can enroll their children into better schools and can avail the good hospitals facility. In this way , this policy has ethical positiveness too.
In other sides, many employers or factory owners might get loss due to extra burden to pay in the same industry. This might cause turmoil in the marketplace. As increased cost of production and hence price related inflation. So , we can say that a small decision to pay above the market might pose challenges to many hence on ethical grounds, it must be prevented. It should be adopted when consortium of traders will give their consent on this pay policy.
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Explain the ethical and economic implications of paying
above-market wages to factory workers in developing countries.
Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the...
Why might some firms voluntarily pay workers a wage
above the market equilibrium, even in the presence of surplus
labor? Check all that apply.
Higher wages cause workers to shirk more of their
responsibilities.
Paying higher wages tends to reduce the average
experience level of a firm's workers.
Paying higher wages encourages workers to be more
productive.
Higher wages attract a more competent pool of
workers.
Attempts: Average: 1 7. The theory of efficiency wages Why might some firms voluntarily...
12. The theory of efficiency wages Why might some firms voluntarily pay workers a wage above...
12. The theory of efficiency wages Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labour? Check all that app Paying higher wages can reduce a firm's training costs. Paying higher wages increases worker turnover. Paying higher wages tends to reduce the average experience level of a firm's workers. Higher wages cause workers to shirk more of their responsibilities. Grade It Now Save & Continue Continue without saving
10. For developing countries such as Mexico and Brazil, severe economic problems in the 1980s...
10. For developing countries such as Mexico and Brazil, severe economic problems in the 1980s were caused by: a. Low real interest rates in the United States b. High levels of income and imports for the United States c. High prices of basic raw materials and other commodities d. A fall in the world demand for products produced by developing countries 15. The ______ is a theory of the balance of payments that shows how home-country spending on home-country...
1 Suppose that wages paid to both factory workers and construction workers in a perfectly competitive...
1 Suppose that wages paid to both factory workers and construction workers in a perfectly competitive factor market is $15 per hour. If the market for factory workers becomes unionized, you would expect: a. an increase in the wage rate for construction workers. b. an increase in the supply of factory workers. c. an increase in the wage rate for factory workers. d. no change in the wage rate for either factory workers or construction workers. 2 Marginal cost is...
4. Asymmetric information and labor markets Raphael is the manager of a factory. Workers at the...
4. Asymmetric information and labor markets Raphael is the manager of a factory. Workers at the factory are assigned to one of two tasks, one of which requires skilled labor and one of which requires unskilled labor. Because skilled workers earn a higher wage than unskilled workers, everyone who applies for a job says they're skilled. Raphael's challenge is to figure out who is actually a skilled worker and who is an unskilled worker. Suppose that Raphael would like to...
5. Asymmetric information and labor markets Megan is the manager of a factory. Workers at the...
5. Asymmetric information and labor markets Megan is the manager of a factory. Workers at the factory are assigned to one of two tasks, one of which requires skilled labor and one of which requires unskilled labor. Because skilled workers earn a higher wage than unskilled workers, everyone who applies for a job says they're skilled. Megan's challenge is to figure out who is actually a skilled worker and who is an unskilled worker. Suppose that Megan would like to...
Nike has experienced demonstrations by university students against their procurement in developing countries. Some athletic teams...
Nike has experienced demonstrations by university students against their procurement in developing countries. Some athletic teams have threatened to no longer purchase from Nike, because of the concern over very low wages, safety standards, working conditions, child labor, and the like, by the factories in these developing countries. There are claims, that some of these workers make less than $100 per month working six days a week for 10-12 hours per day. However, factories in developing countries are not owned...
a Describe some of the features hindering developing countries from growing faster b Explain the extensive...
a Describe some of the features hindering developing countries from growing faster b Explain the extensive economic role of government withina
Describe one of the constraints faced by smallholder farmers in many developing countries and explain how...
Describe one of the constraints faced by smallholder farmers in many developing countries and explain how market access can reduce or eliminate this constraint.
1. Graph and explain the impact to the market supply of lettuce if farm workers get...
1. Graph and explain the impact to the market supply of lettuce if farm workers get higher wages. Be sure to show the change in equilibrium price and equilibrium quantity. 2. Assume a farmer could either grow soybeans OR sugar beets on their land. What would happen to the market supply of sugar beets if the market price of soybeans increased by 20%? Graph and explain. 3. Graph and explain why prices below equilibrium are unstable.
Why might some firms voluntarily pay workers a wage
above the market equilibrium, even in the presence of surplus
labor? Check all that apply.
Higher wages cause workers to shirk more of their
responsibilities.
Paying higher wages tends to reduce the average
experience level of a firm's workers.
Paying higher wages encourages workers to be more
productive.
Higher wages attract a more competent pool of
workers.
Attempts: Average: 1 7. The theory of efficiency wages Why might some firms voluntarily...
12. The theory of efficiency wages Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labour? Check all that app Paying higher wages can reduce a firm's training costs. Paying higher wages increases worker turnover. Paying higher wages tends to reduce the average experience level of a firm's workers. Higher wages cause workers to shirk more of their responsibilities. Grade It Now Save & Continue Continue without saving
4. Asymmetric information and labor markets Raphael is the manager of a factory. Workers at the factory are assigned to one of two tasks, one of which requires skilled labor and one of which requires unskilled labor. Because skilled workers earn a higher wage than unskilled workers, everyone who applies for a job says they're skilled. Raphael's challenge is to figure out who is actually a skilled worker and who is an unskilled worker. Suppose that Raphael would like to...
5. Asymmetric information and labor markets Megan is the manager of a factory. Workers at the factory are assigned to one of two tasks, one of which requires skilled labor and one of which requires unskilled labor. Because skilled workers earn a higher wage than unskilled workers, everyone who applies for a job says they're skilled. Megan's challenge is to figure out who is actually a skilled worker and who is an unskilled worker. Suppose that Megan would like to...
a Describe some of the features hindering developing countries from growing faster b Explain the extensive economic role of government withina
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