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- What may be wrong with over-specialization for workers in factories? A. Work culture may worsen B. The job may lose its meaning for the worker because its relevance to final product disappears C. None of all D. Work load may increase E. Work hours may increaseplease as soon as possible , and accurate answerWhich of the following explains the slope of the demand curve for labor?a. the marginal productivity theoryb. the law of diminishing marginal productc. the practice of featherbeddingd. the result of monopsony
- Discuss the difference between General Training and Specific Training. Give Examples.Explain how changes in technology affect and change the demand for labor. Distinguish between situations in which a particular type of technological change increases the demand for a particular type of labor and those in which it decreases the demand for a particular type of labor.4 Other things being equal, the elasticity of demand for labor will be greater the Multiple Choice smaller the proportion of total costs accountable for by labor costs smaller the elasticity of demand for the product it produces larger the number of close substitute resources available more rapid the decline in its marginal productivity
- How each of the following situations will affect labour demand, i.e. if it will cause amovement along the labour demand curve or a shift (state left or right) in the labour demandcurve. i) A decrease in the price of capital where labour and capital are substitutes. ii)Identify the market in which labour is bought and soldQ.1.20 An upward-sloping labour supply curve illustrates that ceteris paribus; (a) the quantity of labour supplied and the hours of work per week are directly related.(b) the quantity of labour supplied and the price of labour used to produce output are inversely related.(c) individuals use higher income to buy back leisure time.(d) a greater quantity of labour would be supplied at higher wage rates.
- Which type of worker would earn the high income but has lesser marginal productivity? a.Fashion model b. CEO c. Farm owner d. Computer programmerWhich of the following is correct with regard to job specialization? a. Its application is limited to factory work. b. It makes it more difficult to replace people who leave the organization. c. All of these are correct. d. It is a new idea. e. It is a natural part of organizational growth.What best characterizes the relationship between wage labor and capital? a) Capital produces wage labor b) wage labor is a trashisorical form of labor c) wage labor produces capital and reproduce itself. d) wage labor created an accumulation of resources for workers.
