ECON2001

Currently, it is imperative for Depok Municipality employers of more than 50 workers to offer paid family leave for workers with newborn children. Under this new regulation, companies or industries with more than 50 workers are obligate to keep a job for a worker who goes on paid leave for up to eight weeks (approx. two months). When on leave, workers receive 55 percent of their regular pay. What are the likely responses on the demand (employer) side of the labor market? Include in your analysis a consideration of factors that would affect the size of these responses

Q.2 Labor markets are an important concept to understand in terms of how wages are determined. Identify one demand and supply factor that can impact wages in markets. Explain one of the main reasons why the large wage gap exists in the United States and provide one solution of this wage gap.

Q33 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital and finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. Justin Trudeau product sells for $3 per unit, and the wage rate is $13 per worker. The marginal product of the second worker is Multiple Choice   32   14.   8   1   5

Show the likely effects on price- and/or wage-setting behaviour as reflected in the WS/PS diagram of the following: (a) workers become more worried about losing their jobs at any given level of employment (b) the government intervenes to protect domestic rms from foreign competition. (c) higher social security contributions paid by employers. (d) a reduction in the proportion of employees covered by union wage agreements (e.g. as theresult of a decline in industries in the economy that are heavily unionized)

Q49 In order to maximize profits, a firm needs to determine the quantity of each factor that it will employ, which is dictated by price as well as productivity of the factor. Assume farmer in the Ottawa area named Justin Trudeau has fixed amounts of land and capital finds that total product is 24 for the first worker hired, 32 when two workers are hired, 37 when three are hired, and 40 when four are hired. The farmer's product sells for $3 per unit, and the wage rate is $13 per worker. The marginal revenue product of the second worker is Multiple Choice   $9   $15   $24   $8   $14.

Every year, management and labor renegotiate a new employment contract by sending their proposals to an arbitrator who chooses the best proposal (effectively giving one side or the other $1 million). Each side can choose to hire, or not hire, an expensive labor lawyer (at a cost of Employer Low Salary Offer High Salary Offer Employee Walks Employer gets 0 Employee gets 0 Employee Accepts Employer gets 100 Employee gets 75 Employee Walks Employer gets 0 Employee gets 0 Employee Accepts Employee gets 100 Employer gets 75 $200,000) who is effective at preparing the proposal in the best light. If neither hires lawyers or if both hire lawyers, each side can expect to win about half the time. If only one side hires a lawyer, it can expect to win three-quarters of the time. 1. Diagram this simultaneous-move game. 2. What is the Nash equilibrium of the game? 3. Would the sides want to ban lawyers?

Why wages differ   my last chance to get right, please answer correctly For each of the scenarios in the following table, indicate the most likely reason for the difference in earnings. Scenario Differences in Human Capital Compensating Differential Differences in Natural Ability Labour Unions Two security guards have the same amount of schooling and work experience, but earn different wages. One of them works for a prison and earns an annual wage of $55,000 per year. Another works for a museum and earns an annual wage of $34,000 per year.           An economics consulting firm hires Rina, a recent PhD graduate in economics, and pays her an annual wage of $75,000. It also hires Bob, a recent master's graduate degree in economics, and pays him an annual wage of $61,000.           Major-league hockey goalies earn more than minor-league hockey goalies.

Base on this video titled "The Great Resignation: Why Millions Of Workers Are Quitting", https://www.youtube.com/watch?v=1hKXEEUElO8, answer this question: If the so-called Great Resignation happens in the Philippines, what are its implications to the Filipino workforce and employers be?  Limit your answers to 12 sentences.

What are the advantages and the disadvantages of this salary structuring scheme in the Philippine Government?

Base on this video titled "The Great Resignation: Why Millions Of Workers Are Quitting", https://www.youtube.com/watch?v=1hKXEEUElO8, answer this question: If the so-called Great Resignation happens in the Philippines, what are its implications to the Filipino workforce and employers be? (max of twelve sentences)

A worker receives CAD 3,000 of lump-sum transfers from the government annually andhas 4,160 available hours per year. She is currently working 2,200 hours per year at the wage rateof CAD 20.00 per hour. After being promoted, her wage rate increases to CAD 25.00 per hour,and she decides to work 2,700 hours. She is indifferent between her original work decision andworking 2,850 hours at CAD 25.00 per hour.1. What is the compensated wage elasticity of labor supply implied by her response to thewage increase? Is the compensated labor supply elastic or inelastic?2. What is the uncompensated wage elasticity of labor supply implied by her response to thewage increase? Is the uncompensated labour supply elastic or inelastic?3. Why are these elasticities different?

A recession caused by a decrease in aggregate demand has caused a decrease in the demand for labor as shown in the graph below. If wages and prices are sticky, then how many units of output are left unsold? Price $30 $18 100 350 1200 Output S D1 Do

Using the concept of constrained sequential job search, illustrate and explain how the male marriage premium can be an equilibrium outcome in a simple model of inter-linked frictional labour and marriage markets. Consider the following scenario: wages are uniformly distributed between 1 and 18 and the male reservation wage function is piecewise linear, with the marriage-independent reservation wage being equal to 6. Assume that inequilibrium there are 40 bachelors and 8 eligible single men. Calculate the male marriage premium if single men need at least a wage of 14 to be accepted by women but they are only prepared to match women's sexpectation up to a wage of 10. What happens if the wage required to get married increases to 16?

(Resource Demand and Supply) Answer each of the following questions about the labor market: a. Which economic decision-makers determine the demand for labor? What is their goal, and what decision criteria do they use in trying to reach that goal? b. Which economic decision-makers determine the supply of labor? What is their goal and what decision criteria do they use in trying to reach that goal? c. In what sense is the demand for labor a derived demand?

Brianne’s annual contribution to her union dues is $200. If her salary is $38,500, approximately what is her percentage rate contribution? 0.05% 0.5% 1% 5%

Suppose the demand for the Vietnamese inexpensive products from many countries over the world have increased by about 15 percent even under the Coronavirus pandemic in 2020 (from January through August). Suppose further that the demand for Vietnamese skilled workers by the Vietnamese companies producing new high-tech and advanced products have decreased by about 10 percent in 2020 compared to those in 2019. What has happened to the wage gap between Vietnamese skilled and unskilled workers in 2020? Which of the following is MOST appropriate for an answer? A. The wage gap is most likely to fall. B. It is hard to predict unambiguously how the wage gap changes given above information. C. The wage gap is most likely to rise. D. The wage gap is most likely to be little changed.   Perhaps b and c weren't the answer. Please let me know why the answer you chose is correct.

Income $560 $320 B 60 40 0 Work T Suppose this worker's union negotiates an increase in the straight-time wage from $8 to $9.33 per hour with no bonus for overtime. This plan would allow earnings of $560 at 60 hours per week. Assuming this worker can freely choose the number of hours worked, he will choose to work more than 60 hours per week. 60 hours per week. more than 60 hours per week if the income effect dominates; less otherwise. fewer than 60 hours per week.   Note:-  Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.

Let's take another look at the minimum wage.   Is the minimum wage a price ceiling or price floor? Show this on a graph.  Point out or describe any inefficiencies with regard to price and quantity. Is the minimum wage similar to any of the models in chp 17? If so which one? Is there a different result for minimum wage, which you outlined in #1, if monopsony or monopsonistic power is injected into the analysis?  What might that be? Show this on your graph. Is there a different result for equilibrium price and wage you outlined in #1.  If so, what would that be ?

Identify the three most important pieces of labor relationslegislation enacted in the 20th century.

Suppose that the government introduces an EITC such that for the first $8,000 in earnings, the government pays 50¢ per dollar on wages earned. For the next $3,000 of earnings, the credit is held constant at $4,000, and after that point, the credit is reduced at a rate of 20¢ per dollar earned. When the credit reaches zero, there is no additional EITC. Furthermore assume a worker who can work up to 4,000 hours per year at an hourly wage of $10 per hour.  1. The benefit of EITC will disappear at how many hours of leisure? (use just numbers) 2. When the EITC disappears how much does the worker get to consume (do not use $ sign)

Consider the labor market illustrated in the figure to the right. Suppose this market has a unionized sector and a nonunionized sector such that the demand for unionized workers is DU and the demand for nonunionized workers is DNU. Also assume that the supply of unionized and nonunionized labor is fixed at SL. In equilibrium, what is the market wage?