1. .In the 1970s, many working-age women had second thoughts about whether or not they would quit their jobs after getting married and having children or whether or not they would spend most of their adult life working. To put it another way, the number of women who ended up participating in the labor force while they were of college and university age was significantly more than anticipated. How did the realization of this reality affect the amount of money these ladies made? Explain in a few words. The wages of these ladies would have been different if they had known they would be participating in the labor force.
2. In the 1850s, Australia had a 'White Australia Policy' that favored white Anglo-Saxon immigration. In 1901, parliament approved the Immigration Restriction Act ('White Australia Policy'). As local miners witnessed Chinese gold miners find gold, animosity increased. Later, Queensland factory employees worried that recruiting South Sea Islanders might threaten their employment and earnings. The Australian trade union movement believed immigrants from less developed nations would accept lower salaries and take Australian workers' jobs. The 'White Australia policy was dismantled from the 1950s to the early 1970s and ended in 1973. Why do unions worry that Australian immigration will lower wages?When a firm moves from straight-time pay to commission or piece-rate pay, the productivity of a firm's employees may
3. Why don't more organizations utilize piece-rate or commission pay if they have benefits?
4. Many hourly-paid companies need a minimum production. Suppose a corporation utilizing this system wishes to transition to a piece-rate system where workers are paid based on how much output they generate but are free to select how much to produce.
5. Is it possible that piece-rate workers will produce less than the hourly minimum and why do companies fail to utilize the system? Explanation
6. In some jobs, the harder you work, the more you earn. Some workers would rather work harder and earn more; others would rather work less hard, even though as a result they earn less. Suppose, though, that all workers at a company fall into the 'work harder and earn more' group. Suppose also that the workers all have the same abilities. In these circumstances, would output per worker be the same under an hourly wage compensation system as under apiece-rate system? Briefly explain. Compared to an hourly wage compensation system, under a piece-rate system
7. What is the marginal productivity theory of income distribution? Themarginalproductivitytheory of income distribution suggeststhat
8. The total amount of oil in the earth is not increasing. Does this mean that in the market for oil, the supply curve is perfectly inelastic? Briefly explain.
9. In a competitive labor market, imposing a minimum wage (above the market equilibrium) should reduce the level of employment. Will this also be true if the labor market is a monopsony Explain?
10. Whyismoney you receive at some future date worth less to you than money you receive today? Money is worth less in the future because