Who earns it does it help the poor does it really kill jobs those issues, and more. 1995 minimum wage effects on employment and school enrollment journal of business economics and statistics vol 13, no 2, pp 199-207 wenzel, robert 2016 tyler cowen on the two economists that lefties use to prop up their minimum wage hike advocacy. Essay on wages | economics article shared by advertisements wages are a payment for the services of labour, whether mental or physical though in ordinary language an office executive, a minister or a teacher is said to receive a salary a lawyer or a doctor a fee and a skilled or unskilled.
Study of economics links to books and texts on praxeology and economics minimum wage laws take away the ability of low-skilled workers to compete for jobs by lowering their wage demands employers will therefore fill the (smaller) pool of job openings according to other criteria. Therefore, equilibrium wages in the aircraft industry will be higher than before the economy open itself to trade on the other hand, the auto industry equilibrium wages will lower than before trade due to the influx on imported autos in the long run: labour will retrain and join the aircraft industry. Below is a compiled list of economics exam answers and quiz answers if you are going to use this economics exam answers resource, it would be appreciated if you would share this page on facebook, tweet this page or google + this page. Economics archive containing a full list of recent economics questions and answers recent economics questions q: to answer the following questions you will have to refer to the pdf file of graphs that was posted in the exam folder and refer to the large grid graph at the top.
Wages:price paid for the use of labour is called wages in economics it refers to all those mental and physical activities to earn income it includes different types of payments eg wages paid per hour, per day, monthly salary etc nominal /money wages and real wages are the basic two types of wages. Wage differentials have a great economic and social significance they are directly related to the allocation of the wage and salary differentials exist at personal level too different persons having similar qualifications are questions:- q1what do you understand by compensation differentiation. Economics questions and answers 1 an enquiry into the nature and causes of wealth of nations is the book of economist— (a) adam smith (b) marshall (c) robbins (d) none of above ans : (a-adam smith) 2 economics is the science of wealth who gave this definition. Questions tagged [wages] ask question the remuneration/ price of labor, analogue to profits and rents in this recent article, the economist argues that one of the reasons behind the anaemic recent wage growth in britain is that the recent job growth has been concentrated in lower-productivity. How much should you get paid for your job well, that depends on a lot of factors your skill set, the demand for the skills you have, and what other people.
Economic-specific quality standards submissions and/or comments tenuously related to economics, light on economic analysis, or from perspectives the minimum wage is a type of price floor, where the good in question is labor classical economic theory tells us that a sufficiently high price floor in. Labour economics - minimum wages study play what is the minimum wage note: minimum wage more relevavent to people at bottom end of income distribution and with low labour market attachment and reservation wages (eg teenagers. Economics for public policy miles corak writes on economics that matters the question this leaves you with, and which has been missed in much of the public discussion, is whether higher minimum wages, by themselves or in combination with other policies, are the best way to develop a.
The proposed minimum wage ballot question would increase the hourly wage from $831 to $12 in 2020 at the ore house, non-tipped staff already make more than $12 an hour jerry mcbride/durango herald. Question 1 what are the three (3) basic economic questions that all economies must answer describe the differences in the way capitalism question 1 economics and alcohol abuse - when economists think about a product in general, they think supply and demand if there is no demand for. Economics (/ɛkəˈnɒmɪks, iːkə-/) is the social science that studies the production, distribution, and consumption of goods and services.
Given that we have relative scarcity it gives rise to three basic economic questions faced by every economy the overriding consideration for governments around the world when seeking solutions to the above questions is 'which economic system will ultimately maximise welfare and living standards. This is an age-old question in economics, and perhaps one of the least agreed areas within the profession some economists would counter that real wages would fall in order to absorb any increased unemployment, though this claim has always been contentious.
It seems a straightforward enough question to answer minimum wages are designed to protect free exchangeeconomists argue about minimum wages two studies of their impact in seattle reach this article appeared in the finance and economics section of the print edition under the headline wage. Wage theory: wage theory, portion of economic theory that attempts to explain the determination of the payment of labour a brief treatment of wage theory follows for full treatment, see wage and salary the subsistence theory of wages, advanced by david ricardo and other classical economists. Looking for top economics quizzes play economics quizzes on proprofs, the most popular quiz resource choose one of the thousands addictive economics rent paid to them on their property interest on stocks and bonds wages and salries from their jobs the federal and state governments.