Labour markets and wage determination

Question Answers

Your boss offers you a wage increase of 10 percent. Is it possible that you are worse off with the wage increase than you were before? Explain your answer. How might social, or implicit, contracts result in sticky wages? Use a labor market graph to show the effect of social contracts on...
you've been hired as an economic consultant by a price taking firm that produces scarves ...
You have an option to hire 2 hunters. The first hunter is able to kill two deers in an hour, the other hunter is able to kill one deer in an hour. Do you, without a doubt, hire the first hunter because he has an aboslute advantage? My question is that as there is only one variable- kill...
You are the ceo of exxon/mobil: you rhead of the department informs you that his chemist have devised an additive taht doubles the mileage of exxon/mobil gasoline. What do you do? ...
You are planning to estimate a short- run production function for your firm, and you have collected the following data on labor usage (L) and output (Q): Labor usage Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23 ...
You are hired by the Fair Work Commission Australia as a consultant to examine issues relating to pay and performance. Your task is to provide a report detailing findings from the economic literature on the effectiveness of pay for performance initiatives in generating improved outputs (or business ...
X and Y orally agree on a deal. All material terms are present and certain. However, X and Y both want to delay the deal’s becoming a binding contract until they both sign a written agreement, and both clearly say so. Despite X’s and Yâ€&tra...
Would protectionist policies (higher tariffs and more quotas) or freer trade policies (tariff reductions and quota eliminations) be more effective in generating currency appreciation? ...
would a breakdown of okun's law be active policymaking ...
Would a breakdown in the Okun's law relationship strengthen or weaken the case for active policy making? ...

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