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Consider a Labor Union: Essay answers
1. What are the advantages of having a a Labor Union for the Employees.
2. What are the disadvantages of having a a Labor Union for the Employees?
3. What are the advantages of having a a Labor Union for the Consumers and society?
4. What are the disadvantages of having a a Labor Union for the Consumers and society?
Calculate the (1) unemployment rate, (2) labor force participation rate, (3) adult population and (4) the total population for the small town with the following statistics: employed = 1,000, labor force = 1,400, Not in the Labor Force = 1,000 and min..
If the nominal interest rate is 4 percent and expected inflation is 1 percent, what is the real interest rate? Suppose instead that the nominal interest rate is 80 percent and the expected inflation rate is 40 percent.
How did the enclosures law fuel the Industrial Revolution in Great Britain? Would you agree with Karl Marx in saying that the Industrial Revolution and its capitalistic foundations negatively affected the working classes?
A firm produces identical outputs at two different plants. If the marginal cost at the first plant exceeds the marginal cost at the second plant, how can the firm reduce costs while maintaining the same level of overall output? Explain.
A plastics factory emits water pollutants into a nearby river. The marginal private cost of producing plastics and the marginal external cost of the pollutants.
Genentech owns a patent on tissue plasminogen activator (TPA), which is an enzyme that helps the body break down blood clots. TPA is particularly valuable to cardiac patients, since it often allows heart problems to be treated with medication rather ..
In the classic Ricardian model, international trade can lead to increases in the world output of both products and increases in consumer welfare in both countries. An increase in labor endowment will have the same effect of the Ricardian PPF as an im..
The Acme Waste Company of New York City dumps waste into the Atlantic. What is the market price of disposal? At this price how many tons will be disposed? What is the efficient amount of waste disposed? What price should be charged for disposal?
Garden plots at the Aches and Pains Elderxare facility rent for $1 per square foot per month. Lucky has $100 per month to spend on her garden and bus with each bus ride costing $5. The good news is that Lucky's children will pay for half the cost of ..
A demand curve and supply curve for lawnmowers are given respectively as follows: QD = 72 ? 2P + 2MQS = 2P. Where M represents consumer income. Suppose that last year, consumer income was M = $150.
Economists’ models generally produce solutions that allow polluters to continue polluting to some degree. Why do economists favor allowing some pollution to continue? Provide a simple model that yields that result, explain the argument, and comme..
Explain Michael Porter's "Five Competitive Forces That Shape Strategy". What specific segments of the economy does Edmund Mennis recommend be carefully analyzed in assessing the degree of growth or stagnation of the economy?List several economic repo..
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