Problem 1
Explain the relationship between the terms in each of these pairs. a. wages b. equilibrium wage c. wage rate derived demand minimum wage human capital
Problem 1
Explain the differences between the terms in each of these pairs. a. outsourcing insourcing b. contingent employment independent contractor
Problem 3
What are the economic reasons that explain why so many women joined the labor force in the late 1900 s?
Problem 4
Why are education and training considered a kind of capital?
Problem 4
Name two ways technology has altered the U.S. labor market.
Problem 5
For an employee, what are the advantages and disadvantages of telecommuting?
Problem 5
Why would a business care if its workers went on strike?
Problem 5
Why would a star athlete receive wages so much higher than an insurance sales representative?
Problem 6
Using Your Notes Write a paragraph explaining why unions grew in the 1800 s and the first half of the 1900 s. Refer to your completed summary chart to help you develop your argument with strong supporting detail.
Problem 7
If the equilibrium wage for bowling alley managers is \(\$ 16\) per hour, why would a wage of \(\$ 20\) per hour result in a labor surplus? Why would a wage of \(\$ 12\) per hour lead to a labor shortage?
