Explain why labor productivity and real hourly compensation track so closely over time.

Q: Does the rise in automation have to mean that unemployment will grow in the long run? Explain and…

A: Many advances take the form of worker-replacing machines. We hear about self-driving vehicles,…

Q: Base on this video titled "The Great Resignation: Why Millions Of Workers Are Quitting",…

A: In the video, the prime reason of the great resignation has been of the Lack of flexibility  20%,…

Q: Explain how changes in technology affect and change the demand for labor. Distinguish between…

A: Technological change can be either labor saving or labor augmenting. Under labor saving…

Q: true or false? Non-monetary aspects to a job can explain why wages may differ given that two…

A: Non-monetary benefits:- Non-monetary remuneration is defined as any sort of non-cash compensation…

Q: To what extent are flexible work arrangements a positive for workers? For employers?

A: Flexible work arrangement for workers is not bounded by rigid work rules. These arrangements are…

Q: How are the principles of equal pay for equal work and equal pay for comparable work related?  What…

A: Disclaimer: Since you have asked multiple questions, we will solve the first question for you. if…

Q: What are three factors that determine current labour supply? (Select all that apply.) A. Reservation…

A: Labor supply refers to the availability of the labor in the labor market.

Q: If: q = L+K Wage = 20 Rate of capital = 40 How much does it cost the firm to produce q =…

A: Production function : q = L+K We will first find out the marginal product of labor and capital…

Q: Explain the meaning and significance of the fact that the demand for labor is a derived demand. Why…

A: Demand refers to the need and wants of something with available resources and required money for…

Q: Explain why wage rigidity due to labor unions may lead to structural unemployment.

A: Structural Unemployment: It is a form of involuntary unemployment (where are willing to work but…

Q: In this section you have to indicate whether you think the statement is true or false and explain…

A: Costless way is when at given price all the employees are hired and there would be horizontal labour…

Q: What may be wrong with over-specialization for workers in factories? A. Work culture may worsen B.…

A: When product is made, cost  takes place and process of business follow ups. Business can be of…

Q: Using the chart below, when is the value of marginal product of labor when 6 employees are hired? #…

A: Given:When 6 employee is hired:MPL=9Price of output=$8

Q: According to the Feenstra-Hanson model of offshoring, if Japan is skilled-labour abundant and Mexico…

A: Let Japan be the Home country and Mexico be the foreign country, such that Wage of skilled labor in…

Q: A measure of how sensitive the amount of labor firms will hire is to changes in the wage rate.

A: Explanation:  The physical property of labor demand is the quantitative relation of the…

Q: Please explain impact of labor unions to the labor market with necessary graphs

A: In the labor market, relationship between real wage and unemployment level in the economy can be…

Q: Many of the developing countries’ urban areas have experienced dualistic development, where a modern…

A: Answer: Introduction:  When a country starts developing industrialization takes place. With the…

Q: With which of the theories of wages, is the name of John Stuart Mill associated?

A: Wages and productivity are a really basic and crucial part of economics. Wages are the financial…

Q: Describe the income-leisure trade-off. Why might the labor supply curve bend backwards at high…

A: The sum of labor currently employed within a specified time period is known as the availability of…

Q: Under what assumptions is the aggregate labour demand function to be represented as a…

A: The quantity of labor available to be offered at a certain pay rate is referred to as labor supply.

Q: Assume workers in labour market M are qualified to work in an alternative competitive labour market…

A: The labour market, often known as the job market, is concerned with the supply and demand for…

Q: Explain how decrease in non-labor income might affect the optimal labor supply decision? Use graphs.

A: The labor market explains the wage rate determination and the equilibrium units of labor in the…

Q: Work and Utility. Explain the concept of the "net utility of work." How is it useful in developing…

A:

Q: Explain how compensating differentials could contribute to differences between the average wages of…

A: Compensating differentials id defined as an additional amount of wage/income that must be offered to…

Q: Starting at full employment, workers in the manufacturing industries are laid off. This change is…

A: The curve shown is production possibility curve which shows combinations of two goods that can be…

Q: What are some of the determinants regarding demand and supply of labor? Explain why the labor demand…

A: (Note: Only first three questions have been solved).    In economics, the firms demand factors or…

Q: Compare and contrast the economic, political and social climate of the late 1800's through the…

A: The era of late 1800 through 1900's is termed as progressive era in the history of country U. This…

Q: The term refers to a practice in which employers decide to hire more workers than are required for…

A: Given information, Misallocation-When capital and labor are unfairly spread, less productive…

Q: According to the theory of efficiency wages,a. firms may find it profitable to pay above-equilibrium…

A: Theory of efficiency wages states that employees of your organization should be paid higher than the…

Q: In some extreme cases, an individual’s labor supply curve may be downward sloping at higher hourly…

A: Given The question is In some extreme cases, an individual’s labor supply curve may be downward…

Q: Consider the following model of labour supply. There is a representative worker with the following…

A: The consumer equilibrium is the situation when consumer maximizes its satisfaction spending its all…

Q: automation impact the job market within the next few

A: Automation implies use of machinery to do the manual  labor and undertake the product manufacturing…

Q: Female workers tend to earn a lower wage compared to their male counterparts when performing the…

A: Female workers tend to earn a lower wage compared to their male counterparts when performing the…

Q: Why is the short-run demand curve for labor downward sloping?

A: The three most important factors of production- land, labor, and capital are used in the production…

Q: Why is a firm in a purely competitive labor market a wage taker? What would happen if it decided to…

A: A market environment in which a large number of independent sellers deliver similar goods is known…

Q: How each of the following situations will affect labour demand, i.e. if it will cause a movement…

A: Two inputs are substitutes when only one of them is used to produce good