Burdensome employment regulations do more harm than good. If employees don’t like a particular job, they are free to seek another job. It is the labour market that provides the best defence against exploitative employers.” Discuss this argument, referring to at least three of the following: a) bargaining power
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"Burdensome employment regulations do more harm than good. If employees don’t like a particular job, they are free to seek another job. It is the labour market that provides the best defence against exploitative employers.” Discuss this argument, referring to at least three of the following:
a) bargaining power
b) employment rents
c) equilibrium employment levels
d) Labour-market frictions.
Step by step
Solved in 2 steps
- Question 1 If an employer is competitive in the labour market: It has to pay at least the going wage. The wage level depends on the structure of the product market. It can affect the going market wage by either hiring many workers or laying off many workers. It can pay less than the market equilibrium wage.In discussing "output-based compensation schemes," such as piece-rate systems, Stanford economist Edward Lazear observed, "One major advantage of this approach is that it accommodates a variety of worker preferences." But he also noted, "A disadvantage is that a pure piece-rate scheme makes the worker bear risk associated with variations in. business conditions." Source: Edward P. Lazear, "Compensation and Incentives in the Workplace," Journal of Economic Perspectives, Vol. 32, No. 3, Summer 2018, pp. 195-214. a. What does Lazear mean by the first quote above? How do these compansation schemes accommodate different worker preferences? Preferences for whar? OA Piece-rate compensation can benefit both workers who have less ability as well as those who have greater ability OB. Piece-rate pay can benefit workers who prefer to earn more income as well as those who prefer more leisure time. OC. A piece-rate system can benefit workers who prefer a slower work pace and those who prefer a…The empirical evidence on unemployment spell durations suggests that workers who leave unemployment earlier (that is, find or take a job sooner) have no higher post-unemployment wages than workers who leave unemployment later. This result could be interpreted as evidence that the quality of the job match does not improve as the unemployment spell grows longer. (a) What does this interpretation of the evidence imply about the moral hazard costs of UI? (b) An alternative explanation for this evidence is that workers with longer unemployment spells are less qualified than are workers with shorter unemployment spells. How could you empirically distinguish between this explanation and the explanation put forth in (a)?
- 1 What financial arguments could you use to justify your proposedrecommendations to segregate FLTs and the workers?Explain what cost behavious is and why it is important for business? Explain what breakeven point is and why it is important for business? Distinguish between interview and selection of employees. What would be common faults when come to conducting an employment interview?Which is not a necessary condition for operating a selected incentive scheme successfully and efficiently? * The rules of the scheme should be easily understandable The bonus payments should be paid soon after the extra effort has been made by the workers. A selected incentive scheme should be communicated to employees. O Labor productivity should be at the very high level.
- Which of the following is the process of deciding on the schemes of financial incentives in addition to regular payment of wages and salary? O a. Bonus O b. Salary O c. Job evaluation O d. IncentivesDoes your current/future company price discriminate? Explain how the practice works (direct or indirect) and estimate the profit consequences of price discrimination relative to charging a single, uniform price. If your current/future company doesn't price discriminate, are there opportunities to do so? How would you design the price discrimination?Do unions make it difficult for companies to attain a competitive advantage? I think that it is a double-edged sword when it comes to unions and companies attaining a competitive advantage. Unions are necessary to give a voice to the workers while safeguarding them from changes in their wages, pay, and quality of life. Unions can cause organizations to struggle to create a competitive advantage in the economic market by producing the least expensive consumer goods possible. This can limit the job advancement or benefits companies can afford to offer employees since they are providing for the unified force. Unions also provide better productivity and a better-trained workforce.
- In compensation management, if an company is unable to raise your salary, and they are trying to make you stay but are unable to raise your pay, what are three things they can do to make you stay and not leave the worrk?Which of the following statements are false? SELECT ALL THAT APPLY a. One of the dangers of allocating common fixed costs to a product line is that such allocations can make the line appear less profitable than it really is. b. A new fixed cost that must be paid if a special offer is accepted is not relevant in making the decision. c. A cost that will be incurred regardless of which course of action a manager takes is relevant to the manager's decision. d. Your Company is considering replacing Machine X. The original cost of Machine X is not relevant to this decision.All of the following affect the labor market EXCEPT O Social change O population shifts the economy O world events government actions O the forces of competition on staff size O armed forces