Discuss: The weakness in Marx’s contention that the introduction of new machinery and new techniques of production would cause a growing reserve army of the technologically unemployed.
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Discuss:
The weakness in Marx’s contention that the introduction of new machinery and new techniques of production would cause a growing reserve army of the technologically
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- Economists use labor-market data to evaluate how well an economy is using its most valuable resource—its people. Two closely watched statistics are the unemployment rate and the employment–population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment–population ratio in each of the following scenarios. Scenario Effect On... UNEMPLOYMENT RATE EMPLOYMENT POPULATION RATION Many previously laid-off workers find jobs in new startup firms as the economy expands. (DECREASE, INCREASE OR STAY THE SAME) (DECREASE, INCREASE OR STAY THE SAME) After an unsuccessful search, some laid-off workers decide to go back to school as full-time students. (DECREASE, INCREASE OR STAY THE SAME) (DECREASE, INCREASE OR STAY THE SAME) As a result of an economic boom, many students drop out of school and start working as soon as they become adults. (DECREASE,…Whom do Marx and Engels portray as the previous enemies of the bourgeoisie? How did bourgeois economic development and dominance lead to a society based on the “cash nexus”? Why is the bourgeoisie responsible for the emergence of the proletariat? Why is the victory of the proletariat inevitable?Discuss the validity of the following statement: “Given the clear predictions provided by economic theory, empirical work relating to the construction of labor market policies does not provide any added value.”
- Discuss methods to overcome unemployment in IndiaEconomists use labor-market data to evaluate how well an economy is using its most valuable resource—its people. Two closely watched statistics are the unemployment rate and the employment–population ratio (calculated as the percentage of the adult population that is employed). Indicate what happens to the unemployment rate and the employment–population ratio in each of the following scenarios. Scenario Effect On... Unemployment Rate Employment–Population Ratio An auto company goes bankrupt and lays off its workers, who immediately start looking for new jobs. After an unsuccessful search, some laid-off workers quit looking for new jobs. Numerous students graduate from college and immediately begin new jobs. Advances in health care prolong the lives of many retirees.The following are correct statements about the Labor Market model, EXCEPT: Question 14 options: The Demand for labor is mainly determined by the Marginal Productivity of Workers. The Supply of Labor is mainly determined by the Opportunity Cost for Work. An increase in Labor Productivity will likely lead to higher wages but less total labor demand. In equilibrium, the market for labor will attain zero unemployment.
- Classify the following as microeconomics or macroeconomics and provide a justification for your response. A comparison of alternative tax policies and their respective impacts on the rate of the nation’s economic growth The decision by McDonald’s to hire fewer workers because of an increase in the minimum wage. Susan’s decision about how much income to save The central bank announces that it is increasing the discount rate in an effort to slow the rate of inflation. Question 2 A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000.00. the cost of capital is $3000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company’s cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard. Should the company produce and sell it? Timothy quits his job which pays $84000 a year, to enrol in a 2-year…Karl Marx argued that an 'Industrial Reserve Army of the Unemployed' would be produced by capitalism and would serve as a check on wages. In his argumentation, how does capitalism produce unemployment? How does this affect wages? How do capitalists benefit from unemployment? How might unemployment hurt capitalists?One of the Saretec's students is Amanda Shayi, previously an Eskom electrical technician who is completing the seven-month Saretec course to upgrade her skills, to become a wind turbine service technician, thus, maintaining the continuity of power." From the following alternatives, what type of unemployment is applicable, and what type of policy, from which side, is being applied to tackle the unemployment problem caused by the decommissioning of the coal-fired power stations?
- All of the following shift the LAS curve EXCEPT Group of answer choices A) an increase in the money wage rate. B) technological progress. C) an increase in the stock of human capital. D) a change in the capital stock.Which of the following situations would count the individual as officially unemployed a waiter was laid off from work during the pandemic but will be re-hired when the restaurant re-opens a full-time college student who does not work and is not looking for work a man who stays at home to take care of the children and is not looking for work a retired professorClassify each of the below individuals as employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A 14-year old who babysits on the weekend: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An active-duty soldier who volunteers without pay in the community: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A parent who has stopped looking for jobs in order to take care of the children: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A student who has begun applying for jobs but has not yet found one: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An actor who works part-time at a restaurant but is looking for full-time work: employed, unemployed, not in the labor force, or not in…
