Econ 4531 Prob 2 solutions

The most important function of a union is to maximise the wages and salaries of its members (Deery, Plowman, and Walsh, 2000).

I was a little thrown off with this explanation of teaching professionals, “Now that these professions are much more open to women, we have come to accept that pre-college teachers will, on the whole (and with admirable exceptions), be our less successful students.” (Par. #8) I could not understand why this point was in the context, I didn’t get the connection between this and the point that he’s trying to convey. After reading the article several times, I finally came up with my own interpretation of it, I think he means that since less students would be going to college, less college professors would be needed, therefore more money available to provide a better incentive to the new teachers recruited after a vigorous search for high school educators.

22. Which of the following labor organizations endorsed the philosophy of “bread and butter” unionism by concentrating on demands for higher wages, shorter hours, and improved working conditions?

Question 5 If the relevant population is 268 million people and the number of people in the labor force is 148 million, the labor force participation rate is:

The Affordable Care Act of 2010 was a transformative piece of legislature aimed at putting health insurance back in the hands of the public. This comprehensive healthcare plan outlines several key provisions that apply to nursing. "The Affordable Care Act is working to make health care more affordable, accessible and of a higher quality, for families, seniors, businesses, and taxpayers alike. The Patient Protection and Affordable Care Act clearly represents a movement toward much-needed, comprehensive and meaningful reform for our nation’s healthcare system (About, 2014).

Jim will need to calculate the impact of the 20% wage proposal by the union. How does the proposal impact on the average hourly wage rate, the wage impacted benefit rate, the non-wage impacted benefit rate and the total compensation rate for Maple Grove in the first year of the new agreement? (5 marks)

18. If the production function for an economy had constant returns to scale, the labour force doubled, and all other inputs stayed the same, what would happen to real GDP?

Beside the increase in cost to businesses and customers, other people can potentially be hurt by this policy. By increasing the wage, small businesses will suffer a higher cost that can lead to cutting jobs, stalling new hire or even shutting down. On the other hand, the economic plight of these minimum wage workers should also be considered. Therefore, the $15 plan would produce unpredictable consequences, while not doing anything would doom minimum wage workers to live in in poverty and to consume public resources.

I have worked in both union and nonunion workplaces and found the survey questioning my beliefs about unions. I do feel that workers are far better off in this country due to union efforts of the past. Noted in the text, “The United states has legislation governing wages and hours, equal employment opportunity (EEO), family and medical leave, pensions, mergers, Social Security, and health and safety” (Bernardin & Russell, 2013, p. 326). I decided to research three questions on the survey concerning wages and pay-for-performance in which I either disagreed with or was undecided in my response.

The diagram to the left shows how a trade union can force a rise in wages, but it could lead to a cut in the number of jobs. If the union secures the rise in wages from W1 to W2, the trade union mark up, then this leads to an increase in wages. However it also intersects the demand curve at a much higher point

The supply of nurses is not sufficient to meet the current demand, and the shortage is projected to grow further as future demand increases. Most corresponding factors that are affecting the supply of nurses are also impacting the quantity of nurse educators. Therefore, the understaffing of nursing educators is also impacting the amount of nursing students available.

This is another factor which could lead to high teacher turnover in the United States. The current teacher average salary has just gone higher by less than 4 percent from the salary of nearly two decades ago. This way, the teachers are not able to cope with the high inflation and escalated cost of life with this pay. This makes teachers to have high mobility rate in search for better jobs or the so called greener pastures.

A union is an organization of workers who join together in order to have a voice in improving their jobs and the quality of work within the organization. In many occasions, unions help employees of an organization negotiate pay, benefits, flexible hours and other work conditions that may arise. Unions have a role because some degree of conflict is inevitable between workers and management (Noe, 2003). In this paper, I will be discussing the impact of unions and labor relations within an organization.

(b) that pay for work at time rates shall be the same for the same job.

Elasticity is a measure of the responsiveness of demand to changes in the price of a good or service. In the case of Steam Scot, when the price rises from 4 to 5, demand falls from 60,000 to 40,000 units. The original equilibrium market price of 4 pounds resulted in demand of 60,000 units and this generated revenue of 240,000 pounds. When the prices increased to 5 pounds the resulting demand is 40,000 units, and this generates total revenue of 200,000 pounds. When market price changes from 4 pounds to 5 pounds 40,000 pounds of revenue are lost in this indicates an elastic price elasticity of demand.