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- Discuss how workers who differ in their innate abilities sort themselves across piecerate and time-rate jobs. Also describe how the two compensation systems elicit different levels of effort from the workers.Fatima has decided to work for an entrepreneur in Italy because the country's high entrepreneurship rate provides her employment protection and strong unemployment insurance ( a) True ( b) FalseDefine intrinsic rewards. A. payment made to retired workers from an investment fund B. wages earned for working more than the normal allotted time in a workday C. reasons for a person to do something that are not based on wage or salary D. salaries earned by employees for being especially great at their j
- Show that the competitive labor market compensates workers for the probability that they will be laid off.What relationship might be illustrated by a hedonic wage function: a) the relationship between the wage and a worker's race b) the relationship between the wage and the probability of injury faced by the worker c) the relationship between the wage and a worker's gender d) the relationship between the wage and a worker's skill level e) the relationship between the wage and a worker's ageDiscuss the view that the specificity of the on-the-job training does not matter in the choice of who bears the cost of on-the-job training.
- Fringe benefits:a. As you might have suspected, employee nonwage (fringe) benefits make up a muchlarger percentage of labor costs in the United States today than they did a few generationsago (refer to Table 3.1 in the textbook). Fringe benefits as a form of labor compensationis also very unique to the U.S. and other developed nations. Do you think that thegrowing fringe benefit share of labor costs has made the level of employment moreresponsive or less responsive to changes in labor demand over the ups and downs in theoverall economy? In other words, has it given the employers of labor more or lessflexibility as they try to adapt to continuously changing economic conditions?Requesting assistance please PART C Suppose that Poornima's initial budget line was BC2 and that it then changed to BC3, therefore, Poornima's optimal time allocation choice shifted from B to C. As a result of this change, Poornima's opportunity cost of leisure ______ and she chose to consume _____ leisure. Consequently, in this region, the ____ effect dominates the ______ effect. The corresponding portion of Poornima's labor supply curve is ______Other things constant, which of the following job characteristics would be most likely to result in a higher pay rate for the job? a.The job involves working in pleasant surroundings. b.The job is widely viewed as prestigious. c.The job requires substantial amounts of stressful out-of-town travel. d.The employer provides low cost child-care services on the premises.
- To which of the following job characteristics could the hedonic wage function be applied? a. the degree to which a job involves monotonous work b. the degree to which the area surrounding the job location is safe c. the degree to which a job involves strenuous work d. the probability of being injured on the job e. All of these can be represented with a hedonic wage function.Full employment is related to how well a person’s skills match his or her job. True or falseIn the competitive labor market model of this chapter, the "value of the marginal product minus the wage" (MPL xP - W) for a given unit of labor (e.g., worker) gives Group of answer choices a) the change in output from the unit of labor being considered. b) the change in profit from the unit of labor being considered. c) the change in revenue from the unit of labor being considered. d) the change in price from the unit of labor being considered. e) the change in cost from the unit of labor being considered.