-Requirements for the assignment
- This assignment should be completed in essay format.
- It should include an introductory paragraph with a thesis statement, a body, and a concluding paragraph.
- It should be at least 1,000 words in length.
- It should cite the course text and at least two academic articles.
- The articles should be identified using the “Ask a Librarian” function
- Include a copy of your Ask a Librarian chat transcript with your paper, following the References page.
- Your answers should be free of spelling and grammar errors.
- Please follow APA format.
- Please cite your sources by using in-text citations. You must also include a reference list.
How are wages determined in the U.S.? What are the most significant trends in wages over the past five years? Your answer should address the following:
- Demand for labor
- Minimum Wage legislation
- Role of Unions
- Outsourcing of jobs
Key points to be addressed in the paper:
- Determinants of the demand for labor at the firm and market levels
- What causes the demand curve to shift
- Consequences for the wage rate
- The effect of minimum wage legislation on market equilibrium
- Effect on demand and wage rate of outsourcing jobs
- Role of unions in wage determination – direct and indirect
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