For any given job, how do the economy-wide labour market conditions affect a worker’s bargaining power? Explain which labour market variable you would look at to assess labour market conditions.

Explain how the wage can adjust to balance thesupply and demand for labor while simultaneouslyequaling the value of the marginal product oflabor.

Look at the diagram below. Let's assume that aggregate demand declines and a recession occurs, which causes a decrease in the demand for labor. Assuming prices, wages and salaries are sticky, then what is the total excess labor? Salary $45,000 $25,000 5000 11000 19000 Labor S D₁ Do

In the context of a perfectly competitive model of the labour market, an increase in technologythat raises the marginal product of labour at any given level of employment would be expected, inequilibrium, toa) reduce the amount of labour required to produce a given amount of output and hence increaseunemployment.b) shift the labour demand curve outwards and lead to an increase in employment and wages.c) have no effect upon labour supply or labour demand curves and hence have no impact onemployment or wages.d) reduce the supply of labour to the market and result in an increase in wages but a fall inemployment Why the correct answer is B?

It has been argued by some that immigration reduces job opportunities for native-born workers. Based on our understanding of labor markets, we would conclude that This statement is generally inconsistent with economic logic because wages do not differe from country to country and immigration is generally not economically logical. this statement is generally consistent with economic logic becuase there are only a fixed number of jobs available and immigrants are willing to work for lower pay than native born workers. This statement is generally inconsistent with economic logic since more supply can lower wages and induce additional labor demand. This statement is generally consistent with economic logic because when firms create new jobs they have a need for foreign workers with different edcuational skils than native born workers.

In the 1970s Sweden adopted several new labour market policies affecting layoffs. Three were notable: (1) Plants that provided in-plant training instead of laying of workers in a recession received subsidies. (2) All workers had to be given at least one month's notice before being laid off, and the required time in he average plant was two to three months. (3) Laid-off workers had to be given first option on new jobs with the former employer.. What probable effects would these policies have on unemployment? government

Please can i get help with my HW asap?     Consider Bowles’ theory about the firm’s employment of labour for pursuing profit maximization. DefineQ = output per hour, e = the amount of output per unit of work done, d = the amount of work done per hour, andw = the hourly wage.Unit labour cost, ulc = w/QThe figure below shows the labour exaction curves of the firm.    (a) If the firm has control over w, e and d, what can it do in order to increase its profits?(b) Explain the shape of the “old extraction curve” in the graph. What is the slope of the straight line that links up a point on the labour extraction curve and the origin?(c) Suppose that e and d are determined by technology and the firm’s extraction strategy (e.g., supervision), respectively. What causes the shift of the labour extraction curve from the “old” to the “new”?(d) Suppose there is a technical change such that e decreases but dincreases, and e (percentage change) < d (percentage change), is it profitable for the…

6. Plotting the supply of labor In Lexington, 90 people are willing to spend an hour working as pizza makers for an hourly wage of $10. For each additional $5 that the wage increases above $10, an additional 30 people are willing to spend an hour working. For hourly wages of $10, $15, $20, $25, and $30, plot the daily labor supply curve for pizza makers on the following graph. WAGE (Dollars per hour) 50 45 40 35 30 25 20 15 10 5 0 0 30 60 90 120 150 180 210 LABOR (Number of workers) 240 270 300 Supply (?)