If the United States and Mexico agree to free movement of workers across their borders, wage rates in some U.S. labor markets would fall, but wage rates in some Mexican labor markets would rise. Explain.
Answer to relevant QuestionsSuppose the price of leather gloves is $12. Graph a demand curve for leather-glove laborers from the following data concerning their total physical product: If you were a union organizer, how would you go about persuading workers to join the union? You can assume they are familiar with the economic concepts discussed in this chapter. (a) Labor unions are no longer male dominated. Discuss. (b) Women have other issues they would like to see put on the union agenda. Discuss. What factors change the rate of interest? Calculate, using the following table, the marginal revenue product of capital for each of the five quantities of loanable funds when the price of eggs is $0.10 per egg.
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