Reference no: EM133096500

Question 1

Define and explain what "stickiness" refers to when compared to wages. Who coined the theory. Please create or state a good and realistic example of what this might look like in the economy of 2021.

Question 2

Some economists and sociologists are noting that employees are quitting their jobs in record numbers calling it "the great resignation."

As a result employers are focusing on retaining employees.

Define equalizing differences

When you think of some equalizing differences an employer seeking to retain health care workers in the field of long term care or retirement homes for elderly or vulnerable people, what could some "equalizing differences" be, what "equalizing differences" may be less feasible? What else could be done to help negotiate this shortage as the population gets older?

Question 3

What is the human capital theory? Define and explain.

As we have said from chapter 1, economics is about choices. When you consider the choices involved for people today, speak to each of these questions.

A. What is the link between education and earnings, do you think cost/benefit analysis is a good way to look at this, why or why not? What factors might influence the decision to invest in education or not ?

B. Is it a better investment for young people? Why or why not?

C. Should employers entice workers with on the job training? What is this, give an example, explain why it might entice employees to stay - and state how does this compare to more formal education.