Please respond to the following:
- Based on your current or expected employment situation, discuss what events would need to take place (economically) to raise both your opportunity cost and economic rent.
- Compare and contrast the economics of resource markets to other types of markets discussed so far to determine which aspect(s) of resource markets you find most challenging. Explain your rationale.
Labor Markets and Labor Unions
Please respond to the following:
- Discuss which single factor has the biggest influence on the economy. Explain your rationale.
- Discuss the likely economic impact if every market in the U.S. was unionized. Provide specific examples to support your response.