0
What else can I help you with?
What can make wages be set at a level above equilibrium therefore creating unemployment?
c
Labor unions can contribute to -----unemployment by keeping wages above the market-clearing level?
structural
What happens to nominal wages as employment increases?
wages should increase as employment increases.
What kind of science did david ricardos theory called the iron?
David Ricardo's theory called the "iron law of wages" is a concept in classical economics that suggests that wages naturally tend to gravitate towards the level necessary to maintain a worker at subsistence. It implies that any attempts to raise wages above this level would be counterproductive as it would lead to an increase in population, resulting in more workers competing for the same job and ultimately driving wages back down to subsistence.
What is starting wages for a photographer?
well i would like to know what starting wages are for a photographer and what is the entrance level?
What of these goes through cycles according to the theory of the Iron Law of Wages?
The theory of the Iron Law of Wages suggests that wages fluctuate around a subsistence level due to the relationship between labor supply and demand. This theory implies that as population grows, wages tend to decrease to a subsistence level, leading to a cycle of low wages, increased population, and low wages again.
What does it mean to work?
W-2 is above the table-reported wages.
Which is not a factor that affects the level of wages?
the production possibilities frontier
What are the key differences between short run and long run equilibrium in economics?
In economics, the key difference between short run and long run equilibrium is the time frame in which adjustments can be made. In the short run, prices and wages are sticky and cannot adjust quickly, leading to temporary imbalances in supply and demand. In the long run, prices and wages are flexible and can adjust to reach a new equilibrium, resulting in a more stable market.
What does it mean to work W2?
W-2 is above the table-reported wages.
What is the adjusting entry for wages posted twice?
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of... entry is wages expenses are credit and outstanding wages are credit.
What is the major factors of determining the level of wages?
The law of supply and demand.
