Assignment:
Examples of events that could shift the demand or supply of labor and why they do so For the Walmart Company?? ( This needs to be 275 to 350 words)
Explain how the wage can adjust to balance the supply and demand for labor while simultaneously equaling the value of the marginal product of labor.
When Alan Greenspan (who would later become chairman of the Federal Reserve) ran an economic consulting firm in the 1960s, he primarily hired female economists. He once told the New York Times, "I always valued men and women equally, and I found that because others did not, good women economists were cheaper than men." Is Greenspan's behavior profit-maximizing? Is it admirable or despicable? If more employers were like Greenspan, what would happen to the wage differential between men and women? Why might other economic consulting firms at the time not have followed Greenspan's business strategy?
Is it morally wrong to hire a worker for a wage that worker is willing to accept?
How would a utilitarian, a liberal, and a libertarian each determine how much income inequality is permissible?
If you want more income equality, then you are for wealth redistribution. Is there another way to ensure income equality without having the government redistribute income?