Contrast the views of Malthus with that of Marx on population growth and demand for labor. Hint: Refer to the notion of the reserve army of labor.
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Contrast the views of Malthus with that of Marx on population growth and
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- Look at Figure. In the union sector, the union’s ability to raise wages from Wn to Wu decreases total employment from N1 to N2. Thus N1 − N2 workers are displaced from the union sector and will seek employment in the nonunion sector. But suppose that wages in the nonunion sector cannot fall (perhaps because of a minimum wage law). Suppose, more specifically, that they are fixed at Wn in the nonunion sector. If the union and nonunion sectors are the only two sectors in the economy, how many workers will become unemployed because of the union’s ability to raise wages in the union sector? (Hint: N1 − N2 in the union sector is the same number of workers as N3 − N1 in the nonunion sector.) a. N1 . b. N2 . c. N3 . d. N1 − N2 . e. N1 + N2Consider a Sraffa system that describes production with a surplus. Assume that the whole of the wage is variable. The number of commodities in the system is ?. Some are non-basic commodities. . State the economic meaning of the viability condition and express it mathematically. . Assume that the viability condition is satisfied and the rate of profit is given exogenously at a level that is lower than the maximum rate of profit. Explain, with the help of the relevant theorem, why the solution for prices must be nonnegative. NOTE: You need to use only three equations, one for specifying the numeraire, the second for expressing the final solution of the price equations, and third for expressing the condition for nonnegative prices.Calculate the labor and capital share of output: Y=ALαK1-α A= 1.5 α= 0.5 L=Labor K= Capital Factor Markets: Labor Supply (L^S)= 100 Labor Demand (L^D)= 200-5(W/P) Supply of Capital (K^S) = 100 Demand for Capital (K^D)= 200-4(R/P) (W/P)= real wage rate (R/P)= real rental rate
- What is the role of the Reserve Army of Labor in Capitalism?8Question 9 1 pts In describing the history of the industrial revolution and child labor, Waylon Hedegaard argued that Employers like child labor because they put up less resistance to beatings as a means of labor control. Orphans were the preferred child labor because employers could not pay them their wages and few had any adult to defend their rights. O Child labor was needed to oil machinery as it was running prior to the invention of good ball bearings O Hedegaard made all these arguments
- Consider two distinct labor markets in two provinces, Gaziantep and Trabzon. Initially, the “native” wage ?? is the same in both provinces, with equilibrium occurring at the intersection of labor supply and demand curves in each of the provinces. Suppose that Gaziantep receives an influx of Syrian immigrants. Assume that immigrants and natives are “perfect substitutes” in production and immigration between the two provinces is “costless.” Firms are not allowed to move between provinces. Describe the new equilibrium in the labor market for natives in each of the provinces using labor supply and demand curves. Explain your reasoning. Assume that immigrants and natives are “perfect complements” in production and immigration between the two provinces is “costless.” Firms are not allowed to move between provinces. Describe the new equilibrium in the labor market for natives in each of the provinces using labor supply and demand curves. Explain your reasoning. Assume that immigrants…Discuss the validity of the following statement: “Given the clear predictions provided by economic theory, empirical work relating to the construction of labor market policies does not provide any added value.”Consider a world composed of two countries, Home (H) and Foreign (F). Individuals living in each countryi = H, F have preferences over two goods x and y.In each country there is only one factor of production, labour, which is perfectly mobile between industries butimmobile between countries. The total labour endowment at Home is LH = 10 and the total labour endowmentin Foreign is LF = 10.The marginal product of labour in each industry is constant. At Home, one worker can produce 2 units ofgood x or 1 unit of good y per unit of time; at Foreign one worker can produce 1 unit of good x or 2 units of goody per unit of time.Assume that consumers in Home and Foreign always consume goods x and y in the same quantity regardlessof their prices. That is, Cxi = Cyi, i = H, F F. Suppose that the equilibrium price of good x (keeping the price of good y as 1) is equal to 1. Determine the optimal production and consumption both at Home and Foreign when they open up to trade. Depict this in graph.
- Consider a world composed of two countries, Home (H) and Foreign (F). Individuals living in each countryi = H, F have preferences over two goods x and y.In each country there is only one factor of production, labour, which is perfectly mobile between industries butimmobile between countries. The total labour endowment at Home is LH 10 and the total labour endowmentin Foreign is LF = 10.The marginal product of labour in each industry is constant. At Home, one worker can produce 2 units ofgood x or 1 unit of good y per unit of time; at Foreign one worker can produce 1 unit of good x or 2 units of goody per unit of time.Assume that consumers in Home and Foreign always consume goods x and y in the same quantity regardlessof their prices. That is, Cxi = Cyi, i = H, F.(a) Calculate the opportunity cost of producing one additional unit of good x in terms of units of good y in Homeand Foreign.(b) Derive the production possibilities frontier (PPF) for Home and Foreign and plot it in a graph…Consider a simple demand-and-supply model of a competitive labour market in a small town. The demand and supply curves for labour are given by Demand: w= 22 - 3LD Supply: w=4+3LS where w is the wage ($ per hour) and L is the number of hours of employment (measured in thousands of hours per month). a. Use the line drawing tool to plot the demand and supply curves in the graph at the right. Use points with labour hours value of 0 and 5 to draw the lines. Label the lines properly. Carefully follow the instructions above, and only draw the required objects. C Wage ($ per hour) 24- 22- 20- 18- 16- 14- 12- 10- 8- 6- 4- 2- 0- 0 Labour Market 2 3 4 1 Labour (thousands of hours per month) + 5Both answers give you thumbs up and explain it Question 21What was the "General Will" theory?A) an individual's decision based on their personal interests, often revealing their own personal greedB) an individuaľ's ability to overcome their personal interests and vote for what is best for the communityC) the majority voteD) protection for the minority whose ideas were defeated in the vote Question 22Which of the following was NOT related to the "Division of Labor theory?A) use of machines and other inventionsB) creation of an early "assembly lineC) increases in worker efficiencyD) workers would become revolutionary in their hatred of industríal labor