Question
How are wages determined in the U.S.?What are the most significant trends in wages over the past five years?Your answer should address the following: Demand
How are wages determined in the U.S.?What are the most significant trends in wages over the past five years?Your answer should address the following:
- Demand for labor
- Minimum Wage legislation
- Role of Unions
- Outsourcing of jobs
Key points to be addressed in the answer:
- Determinants of the demand for labor at the firm and market levels
- What causes the demand curve to shift
- Consequences for the wage rate
- The effect of minimum wage legislation on market equilibrium
- Effect on demand and wage rate of outsourcing jobs
- Role of unions in wage determination - direct and indirect
Please cite any sources used.
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The Ethics Of The New Economy Restructuring And Beyond
Authors: Leo Groarke
1st Edition
1554586933, 9781554586936
