Over the last few years, RJ. Reynolds, a subsidiary of RJR Nabisco, has been establishing more production facilities overseas. In terms of labor, the advantage of this strategy is that 01.labor is less unionized in foreign countries. 02. in most foreign countries, unions are highly regulated by the government. O3. labor unions are illegal in most foreign countries. O4. foreign unions are less demanding in contract negotiations. 05. foreign unions rarely go on strike.
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- If TP or Q for the fifth worker is 83, and TP or Q for the sixth worker is 97, MP for the sixth worker is O 14. O.071. O-14. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.In the United States, labor earnings are about what percent of total income? O a. 75 percent O b. 70 percent O c. 67 percent O d. 50 percent Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.Suppose the demand curve for union labor is given by the equation: L = 450 − 3W.Suppose the current wage is $20. Now suppose the union is successful in raising the wage of its members to $28. At the same time, it is able to shift the demand for labor out to: L = 510 − 3W. Has the higher wage negotiated by the union reduced the employment opportunities of its members? If so, by how much? c. Who has benefitted and who has lost as a result of this negotiation. Be specific and complete.
- Suppose the demand curve for union labor is given by the equation: L = 450 − 3W.Suppose the current wage is $20. Now suppose the union is successful in raising the wage of its members to $28. At the same time, it is able to shift the demand for labor out to: L = 510 − 3W. a. What was the original employment level? What is the new employment level? b. Has the higher wage negotiated by the union reduced the employment opportunities of its members? If so, by how much? c. Who has benefitted and who has lost as a result of this negotiation. Be specific and complete.Assume that the productivity of farm labour depends on daily caloric intake, similarly to that depicted in Figure17.4. Using this kind of diagram, compare the efficiency wages that would apply to the following two types of workers: • A landless labourer • A labourer with small plot of land on which he grows staple crops Describe the likely equilibrium unemployment rates and wage rates for landless labourers and small landholders. Judging partially on the basis of this example, what sorts of data and what empirical strategies might you use to see whether nutritional efficiency wages were an important element in the rural labour markets of poor, rural economies?2. Consider a labour market with 3 types of workers: great workers, normal workers, and perpetually lazy workers. The population is composed of a great workers, a proportion of ẞ of normal workers, and the remaining 1-a - B lazy workers. A firm is looking to employ workers. The productivity of each type of workers are $50, $20 and $10 respectively but the firm does not know productivity, only workers do. Workers are willing to work as long as they get paid no less than $5 lower than their productivity (example: lazy workers are willing to work for $5 and up). For which values of (a, B) are all workers employed in equilibrium? For which values (a, ẞ) only the normal workers and lazy workers employed, and for which values of (a, B) are only the lazy workers employed? Explain your findings!
- 4 Suppose that a union and a firm operate in an efficient bargaining framework, with equal bargaining powers (so the term for bargaining power in the Nash product equals one). The union is assumed to have a utility function, specified net of its threat point, of the form U = (w − )L. The firm gains satisfaction from profits according to the utility function U(π) = π with the threat point, , equal to zero. (a) Derive the equation for the contract curve. (b) Show that the level of employment is determined independently of the equilibrium value of wages. (c) Show that changes in the degree of bargaining power affect wages but not employment.Q. 1. For this question, assume that Y = N. Based on our understanding of the labour market model presented in Chapter 6, we know that a reduction in the markup will cause: Select one : O. a. no change in the natural level of output. O. b. no change in the natural level of employment. O.c.an increase in the natural level of output. O.d. a reduction in the natural level of output. O. E. reduction in the natural level of employment Q. 2 Assume that investment does NOT depend A reduction in government spending will cause which of the following for this economy? Select one: O.a. an increase in investment Ob. a decrease in investment O.c. No change in the interest rate. O.d. No change in output. O.e No change in investment Q. 3 Based on our understanding of the labour market model presented in Chapter 6, we know that a reduction in the markup will cause: Select one: O. a. an increase in the equibrium real wage O. b. a reduction in the equilibrium real wage. O. c. a…Workers are compensated by firms with benefits in addition to wages and salaries. The most prominent offered by many firms is health insurance. Suppose that in 2000, workers at one steel plant were paid $30 per hour and in addition received health benefits at the rate of $6 per hour. Also suppose that by 2010 workers at that plant were paid $31.50 per hour but received $13.5 in heakth insurance benefits. a. By what precentage did total compensation (wages plus benefits ) change at this plant from 2000 to 2010? Total compensation increased or decreased by________ percent? What was the approximate average annual percentage change in total compensation? b. By what percetage did wages change at this plant from 2000 to 2010? Wages increased or decreased by ______percent? What was the approximate average annual percentage in wages? c. If workers value a dollar of heath benefits as much as they value a dollar of wages, by what total percentage will they feel their incomes have risen over…
- Oscar and Gwen live in Portland. Oscar’s net present value of lifetime earnings in Portland is $135,000, while Gwen’s is $450,000. The cost of moving to Memphis is $25,000 per person. In Memphis, Oscar’s net present value of lifetime earnings would be $145,000, while Gwen’s would be $520,000. If Oscar and Gwen choose where to live based on their joint well-being, will they move to Memphis? Is Oscar a tied-mover or a tied-stayer or neither? Is Gwen a tied-mover or a tied-stayer or neither?Table: Employment and Output Quantity of Labor(workers) Quantity of Wheat(bushels) Marginal Product of Labor(bushels per worker) 0 0 19 1 19 17 2 36 15 3 51 13 4 64 11 5 75 9 6 84 7 7 91 5 8 96 Reference: Ref 19-4 Table: Employment and Output (Table: Employment and Output) Use Table: Employment and Output. In the table, if the price of a bushel of wheat is $10, then the value of the marginal product of the third worker is: Select one: a. $15. b. $510. c. $150. d. $170.Ma2. Required: Question 3.(LO3 Apply) Simon Ltd is run by Simon Leather who makes leather belts for designers. He uses the finest Argentinean leather and needs highly trained machinists to make the belts up to the quality designers expect. His beits usually sell for £50 per item and use 0.2m² of leather and 30 minutes of labor. Simon Ltd has 5 staff. They work a standard 8-hour day, 5 days a week, 48 weeks of the year. They earn £15 per hour. Leather costs £20 per meter. Simon also has some variable overheads of £6 per unit. Fixed overheads are £28,800. a) Calculate the number of belts Simon will have to sell to break even. Simon decides to branch out and start to also sell handbags to the same market. The handbags sell for €250 each and use 1.5m² of leather with 1 hour of labor being required. Variable overheads are £20 per handbag. There has been a bad case of foot and mouth in Argentina. Simon can only use the leather he has currently being shipped to him for the next…