What is the purpose of wage suppression? How wage suppression is defined in the literature?

Q: Increasing the minimum wage has no impact on employment, regardless of the size of the increase.…

A: Minimum wages refers to the minimum remuneration given to employee by employer for doing work by…

Q: who is incharge of wage diecisons in a business?

A: Wages refer to the payment received by the employees for rendering factor services to the employers.…

Q: Describe the two possible effects that an increase in the wage rate can have on labor supply. Which…

A: Wage rates are defined as the fundamental remuneration per unit of time or output. The amount of…

Q: Using one reason for wage rigidity, graphically illustrate unemployment in the labour market where…

A: Supply of labor: A look at the elements that influence an individual's and the market's labor…

Q: Identify two reasons why a wage might rise above the market equilibrium,and describe their effect on…

A: Answer to the question is given below :

Q: How does the amount of unemployment created by an increase in the minimum wage depend on the…

A: The elasticity of labor demand explains the fluctuation in quantity demanded of labor due to change…

Q: Ritholtz references a research paper that examined 38 states and regions from 1979 to 2016. This…

A: Research is described as a methodical examination of a specific subject or problem using scientific…

Q: Explain the hedonistic wage function in short with a diagram

A:

Q: Which of the following will cause the wages in a labor market to decrease? i. A tax that must be…

A: In the labor market, individuals serve their services as a worker or employee in the production…

Q: How do mandated benefits affect labor market outcomes? Why do these outcomes differ from those…

A: Answer - Mandated benefits :- Mandated benefits affect the labor market in positive way as mandated…

Q: Explain four ways in which a firm might increase its profits by raising the wages it pays.

A: A firm hires workers and employees to serve their services at different levels of the production…

Q: Why do economists say that discrimination is inerhently inefficent and therefore will not occur in…

A: Discrimination is the process of charging different prices from a different individuals in the…

Q: Minimum-wage laws and unemployment Consider the market for labor depicted by the demand and supply…

A: Unemployment is a condition where, people who are a capable part of the labor force, are trying to…

Q: The following graph represents the demand and supply of retail labor in California. Which of the…

A: "In a labor market, demand for labor LD represents the demand for labor by firms to be involved in…

Q: •Eq. wage=$10 • Eq. employment = 1200 • Min Wage $12 then Equilibrium employment =1100. •…

A: Answer to the question is as follows :

Q: What is the theory of efficiency wages? If you were an employer, would you pay efficiency wages? At…

A: Wage is the sum of money that is paid to the workers by the employer on daily basis.

Q: Consider two provinces that adopt different laws concerning labour unions. The following graph shows…

A: In west province it will work as minimum wage rate decided by labour unions . Because prevailing…

Q: In the world, What are the economic, social and historical reasons that were effective in the…

A: Economic reason for labor law was wage inequality.

Q: Workers are worse off when they face a monopsonistic labor market.

A: Monopsony labor market is a market in which there is only one employer. A monopsony operates on the…

Q: What is the impact of derived demand on labor wages?

A: 1.Derived demand is indirect demand.for example if there is demand for steel then there will be…

Q: Explain ways in which a firm might increase its profits by raising the wages it pays.

A: Profit: It is the income after settling all expenses.

Q: According to efficiency wage theory, what is NOT a reason that companies want to pay an efficiency…

A: Efficiency wage theory says that firms pay workers above competitive wage.

Q: Explain five ways in which a firm might increase its profits by raising the wages it pays?

A: Wages refer to the fixed amount of sum paid to the workers for rendering their services in a firm or…

Q: Illustrate and explain the impact of a minium wage on the labour market

A: The minimum wage rate or the wage floor is a concept where the government authority fix is the…

Q: the most important federal employee protection in place today

A: The most important federal employees protection in place are as below:- 1.The minimum wages:-The…

Q: Some economists argue that minimum wage policy does not always lead to the unemployment consequences…

A: A minimum wage law refers to a law that decides the minimum wage rate that an employer should pay to…

Q: Compare and contrast the impact of a minimum wage law vs. a cash transfer program in the labor…

A: A minimum wage law states wage being set above equilibrium level. This causes a decrease in firms'…

Q: When Alan Greenspan (an economist who wouldlater chair the Federal Reserve) ran a consulting firmin…

A: Alan Greenspan uses a different and unique business strategy which others were not using to make his…

Q: Give three of explanations for how efficiency wages might work.

A: Efficiency wage is the concept which states that a worker increases his productivity with the…

Q: How does monopsony affect the equilibrium wage and employment levels?

A: A monopsony refers to a situation when there is a single employer in the labor market. As a result,…

Q: What factors create the link between wages and productivity that is at the heart of efficiency wage…

A: The idea of the efficiency wage theory is that increasing wage can lead to increased labor…

Q: What is the purpose of the National Labor Relations Act (1935)?

A: Labor, in economics, is a factor of production which uses the equipments and machinery to produce…