Labor and the objectives of this chapter
We will discuss the occupational trends and how these issues helped lead to the election of President Trump in 2016
a. occupational trends the last 60 years and how trends in labor market are tracked
b. changes in US labor market, and explain how it was reflected in 2016 and 2020 voting
9-1 Labor Market Trends (211-217)
Identify
discouraged workers
learning effect
screening effect
contingent employment
Answer 1,2, 5, 6 on page 217
9-2 Labor and Wages (219-226) goals
a. explain supply and demand in labor market (are pro atheletes overpaid?)
b. explain how discrimination is econoically inefficient and how it impacts wages
c. examine why wages, working conditions, and benefits differ
Identify
productivity
equilibrium wage
unskilled vs. semi skilled labor
professional (white collar) labor
glass ceiling
featherbedding
Look at the flow chart (220), how does the outcome of the scenario effect cooks and restraurants?
Look at the equilibrium wage (221) on the chart. Why do stable wages mean stable restraurant prices?
Look at the chart on 223, which job has a less elastic supply? Why?
Answer questions 2, 3, 4, 6 on page 226
Read Karl Marx (227) answer questions 1 +2
9-3 Organized Labor (228-234)
a. Look at growth and decline of the US labor movement
b. explain collective bargaining
define
right to work law
white collar
blue collar
mediation
arbitration
Answer questions 1, 2, 7, 8
b. changes in US labor market, and explain how it was reflected in 2016 and 2020 voting
9-1 Labor Market Trends (211-217)
Identify
discouraged workers
learning effect
screening effect
contingent employment
Answer 1,2, 5, 6 on page 217
9-2 Labor and Wages (219-226) goals
a. explain supply and demand in labor market (are pro atheletes overpaid?)
b. explain how discrimination is econoically inefficient and how it impacts wages
c. examine why wages, working conditions, and benefits differ
Identify
productivity
equilibrium wage
unskilled vs. semi skilled labor
professional (white collar) labor
glass ceiling
featherbedding
Look at the flow chart (220), how does the outcome of the scenario effect cooks and restraurants?
Look at the equilibrium wage (221) on the chart. Why do stable wages mean stable restraurant prices?
Look at the chart on 223, which job has a less elastic supply? Why?
Answer questions 2, 3, 4, 6 on page 226
Read Karl Marx (227) answer questions 1 +2
9-3 Organized Labor (228-234)
a. Look at growth and decline of the US labor movement
b. explain collective bargaining
define
right to work law
white collar
blue collar
mediation
arbitration
Answer questions 1, 2, 7, 8
