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List and explain five reasons why the role of unions are becoming more important now than prior to the COVID-19 pandemic
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- Describe how we calculate the percentage decline in national income resulting from the misallocation of labor in a model of monopoly unionism. What is the dollar value of this allocative inefficiency if unions and firms reach efficient contracts and the contract curve is vertical?Contrast the methods used by inclusive unions and exclusive unions to raise union wage rates.Describe the two basic strategies of unions in increasing wage rates for their members.
- What is the principle strategy of an inclusive (industrial) union in order to increase the wages of its members?Describe the wage-employment outcome in a model of monopoly unionism. Explain why (and in what sense) this wage-employment outcome is inefficient.Two presidents named Roosevelt helped promote the acceptance of unions. What did Theodore Roosevelt do in 1902 to promote unionism? More importantly what did Franklin Roosevelt do in the mid-1930s?
- How to calculate the percentage of decline in national income resulting from misallocation of labor in a model of monopoly unionism? And how to discuss the both unions and firms can be better off if they move off the demand curve? Give some example of derive the contract curve. What is the difference between efficient contracts and strongly efficient contracts ? Discuss the application of Hicks Paradox. What is the labor strike and how does it affect the business of the firm? Identify and explain the different catergoties of labor strike.Part I: Suppose the firm's labor demand curve is given by: w = 60 – 0.03E where w is the hourly wage andE is the level of employment. Suppose also that the union's utility function is given by: U = w x E The marginal utility of the wage for the union is E and the marginal utility of employment is w. (a) How many workers will be employed under a monopoly union contract? (b) What wage would a monopoly union demand?Suppose the firm’s labor demand curve is given by w = 20 - 0.01E where w is the hourly wage and E is the level of employment. Suppose also that the union’s utility function is given by U = w * E It is easy to show that the marginal utility of the wage for the union is E and the marginal utility of employment is w. What wage would a monopoly union demand? How many workers will be employed under the union contract?
- A discussion of labor unions usually evokes strong feelings. Some people argue vigorously against labor unions; others argue with equal vigor for them. Some people see labor unions as the reason the workers in this country enjoy as high a standard of living as they do; others see labor unions as the reason the country is not so well off economically as it might be. Speculate on why the topic of labor unions generates such strong feelings and emotions--often with little analysis. 200 word minimumWhich of the following statements is most accurate? Unionization almost always results in improvements to workplace productivity The effects of unionization on productivity are mixed; sometimes it results in an increase and sometimes it results in a decrease Unionization generally has no effect on workplace productivity Unionization almost never results in improvements to workplace productivityTrue or false. “To the extent that they succeed in their goals, unions only ever reduce productivity and efficiency.”