Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Since 1973 the real earnings of those with a high school degree or less has gone down in the US. The causes include increased low-skilled

Since 1973 the real earnings of those with a high school degree or less has gone down in the US. The causes include increased low-skilled immigration, greater foreign competition in low skilled manufacturing (including the outsourcing of previous US jobs), the reduction in US unionism and the decline in the real value of the minimum wage. These all amount to a decline in demand for low wage labor or an increase in its supply generating a continued downward influence on unskilled earnings. Should the government respond? If so, how?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics and Organizational Architecture

Authors: James Brickley, Jerold Zimmerman, Clifford W. Smith Jr

5th edition

73375829, 978-0073375823

More Books

Students also viewed these Economics questions