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Labor unions face many challenges-including changing technology, foreign competition, and declining membership. But one union occupation thrives-dockworkers. The 100,000 members of the two longshoremen unions handle nearly every item or shipping container that enters or leaves any U.S. port. With salaries averaging more than $120,000 a year, longshoremen are the highest-paid blue-collar workers in the nation, if not the world. Dock foremen average nearly $200,000 a year-more than most lawyers and physicians. At the South Carolina port of Charleston, for example, union pay is triple that of auto mechanics and truck drivers and is four times that of firefighters. The supply of applicants for dock jobs is great. When the port of Los Angeles needed 3,000 more union workers, over 300,000 applied, many of them college graduates (jobs were awarded by lottery). Why? Be sure to explain both the general situation faced by most unions, and the special circumstances of dock workers
Use the data on U.S. real GDP below to compute real GDP per person for each year. Then use these numbers to compute the percentage increase in real GDP per person from 1987
From an accounting standpoint, stock splits neither add nor detract from the intrinsic value of the stock. For example, if stock was $100,paying a $2.50 dividend and underwent
Describe the economic cost of most international trade less than economic benefit of that trade for both the firms and nations involved using trade and comparative advantage e
If the U.S. dollar were to appreciate substantially, what steps could a domestic manufacturer such as Cummins Engine Co. of Columbus, Indiana take in advance to reduce the e
Merged carriers include America West and US Air to make US Airways, and under consideration today, the joining of Delta and Northwest Airlines. Upstarts like Jet Blue, South
Draw a graph of the U.S. automobile market in which the domestic equilibrium price without trade is Pd and the equilibrium quantity is Q d. Use this graph to illustrate and
Focusing on the production of a nation other than the US. Determine what is currently going on with the Canadian Automotive Industry and explain why is this important?
Mexico is a producer and exporter of crude oil. Since Mexico is a relatively small crude-oil producing country, its actions do not affect world prices; as an exporter, Mexic
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