4. 1) Labor demand is more elastic the greater the elasticity of demand for the output. When the wage rises‚ the marginal cost of production increases. A wage increase‚ therefore‚ raises the industry’s price and reduces consumers’ demand for the product. Because less output is being sold‚ firms cut employment. The greater the reduction is consumer demand‚ the larger the cut in employment and the more elastic the industry’s labor demand curve. Unions want to limit the availability of goods that compete
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MIGRANT LABOR Migrant labor is the movement of people from one place to another in order to find jobs. When you first hear this definition you may think a few people moving out of the country does not matter. However‚ you have to consider immigration may involve large numbers of people. Movement of such large numbers may cause a lot of changes in the home country‚ host-country and the laborer’s health. This is why I do not support the idea of labor migration at all. To begin with
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Child Labor It is widely accepted that one of the key components to a healthy future is a good education. Education is so important that in most well-developed countries‚ it is the law‚ with a punishment for refusing to go to school. However‚ children around the world are deprived of this essential right. These children are unlawfully forced into working long hours in horrible conditions‚ and are often in contact with hazardous materials. Child labor occurs the most in areas of high poverty as
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Notes on labor productivity Labor productivity is a key element in the explanation of how the economy works. It is especially important with regard to wages. What follows is some material about labor productivity and investment spending that is a reorganization of what is presented in your textbook. Its focus is on the connection between labor productivity and wages. Labor productivity is the value of the product or service you can produce in an hour‚ day‚ week or other unit of time. The value
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“Labor Disputes” includes any controversy or matter concerning terms or conditions of employment or the association or representation of persons in negotiating‚ fixing‚ maintaining‚ changing or arranging the terms and d conditions of employment‚ regardless or whether the disputants stand in the proximate relation of employer and employee. (Art. 212) Remedies in Labor Disputes A. Grievance Procedure—in-house adjustment of complaint‚ problem‚ or dispute following the steps prescribed in CBA or company
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Inc. (3rd Alert). The Antecedent Facts This case started from an illegal dismissal complaint filed by Romualdo Navia against 3rd Alert. On November 30‚ 2005‚ the labor arbiter issued a decision that Navia’s dismissal was illegal. 3rd Alert appealed to the National Labor Relations Commission (NLRC) which affirmed the ruling of the labor arbiter. 3rd Alert’s motion for reconsideration of the NLRC decision was denied in a resolution dated October 19‚ 2008. From this ruling‚ 3rd Alert filed an appeal
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FORCED LABOR In the article entitled “Forced Labor”‚ Gregorio F. Zaide and Sonia M. Zaide showed us that Filipinos as vassals (servant/slave) of Spain should render forced labor known as polo aside from paying tribute and complying bandala which is selling of other farm products to the government. The polo was a compulsory labor imposed by Spanish colonial authorities on adult Filipinos males. Males between the ages of 16 to 60 were required to render service for 40 days in a year. This service
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Hershey Sued Over African Cocoa Farm Child Labor Accusations An investor group is suing the United States largest chocolate manufacturing company Hershey Co.‚ for allegedly using cocoa that is the product of child labor. The Louisiana Municipal Police Employee’s Retirement System filed a lawsuit in October of 2012‚ which seeks to force Hershey to open its corporate records for investors. This public pension fund‚ made up of Hershey shareholders believes that records could reveal the leading U
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Chapter 4: Costs and Cost Minimization Multiple Choice 1. Suppose you are a star basketball player at a major university in your sophomore year. You are sought after by several NBA teams. Which of the following choices best characterizes your opportunity cost if you choose to drop out of college and enter the NBA? a) The value of your college scholarship that you have given up. b) The skills that two more years of playing at your college would have given you along with their additional value
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Technology‚ Demography‚ and the Environment 1450-1750 The main trend relating to technology‚ demography‚ and the environment from 1450 to 1750 are … Some of the most influential new technologies were guns‚ improved shipbuilding‚ and better navigational devices. The invention of guns would forever change the way wars were fought. Instead of swords‚ bows and arrows‚ or lances‚ guns would emerge as the dominant global weapon. They were lighter than cannons and more efficient than bows and arrows.
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