Fringe benefits: a. As you might have suspected, employee nonwage (fringe) benefits make up a much larger percentage of labor costs in the United States today than they did a few generations ago (refer to Table 3.1 in the textbook). Fringe benefits as a form of labor compensation is also very unique to the U.S. and other developed nations. Do you think that the growing fringe benefit share of labor costs has made the level of employment more responsive or less responsive to changes in labor demand over the ups and downs in the overall economy? In other words, has it given the employers of labor more or less flexibility as they try to adapt to continuously changing economic conditions?
Fringe benefits: a. As you might have suspected, employee nonwage (fringe) benefits make up a much larger percentage of labor costs in the United States today than they did a few generations ago (refer to Table 3.1 in the textbook). Fringe benefits as a form of labor compensation is also very unique to the U.S. and other developed nations. Do you think that the growing fringe benefit share of labor costs has made the level of employment more responsive or less responsive to changes in labor demand over the ups and downs in the overall economy? In other words, has it given the employers of labor more or less flexibility as they try to adapt to continuously changing economic conditions?
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter4: Labor And Financial Markets
Section: Chapter Questions
Problem 13RQ: What is die price commonly called in the labor market?
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a. As you might have suspected, employee nonwage (fringe) benefits make up a much
larger percentage of labor costs in the United States today than they did a few generations
ago (refer to Table 3.1 in the textbook). Fringe benefits as a form of labor compensation
is also very unique to the U.S. and other developed nations. Do you think that the
growing fringe benefit share of labor costs has made the level of employment more
responsive or less responsive to changes in labor demand over the ups and downs in the
overall economy? In other words, has it given the employers of labor more or less
flexibility as they try to adapt to continuously changing economic conditions?
Transcribed Image Text:Figure 3.1 Inputs that Are Substitutes in Production
▶ Details
Skilled Labor
Qo
B
Unskilled Labor
Qo
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