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According to the text privatization is "arranging for private companies to on certain jobs and functions formerly done by government." (Burger, 15) Many of these private companies save money by hiring non union workers. These private companies do this because they can pay these employees a lower salary and offer little to no benefits, such as health insurance, than union workers. I don't believe that hiring non union workers to save money and cut costs is always happening with these private companies. I also don't believe that it is a bad thing to do these strategies depending on the situation. Jobs in which the worker is not necessarily in danger or could be put into a potentially dangerous situation, I don't see the problem with privatization. I don't see why hospital housekeepers and hospital food service workers need to be run by the government. On the other hand I do see issues with a private company running halfway houses, recovery homes and prisons. I think these workers need to be fully trained and that's not a guarantee with privatization. In these situations I would rather have a fully trained employee with a higher salary than cut costs and hire someone who isn't fully aware of the situation. From my point of view the text book has a more conservative point of view regarding privatization. The text book doesn't really focus on the positive effects of privatization.
Explain how the United States calculates unemployment and why many economist do not find this as a real economic indicator. How is unemployment calculated in other countries? Give two examples. What are your thoughts and ideas on this?
Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marginal physical product of the last un..
Panel B shows how the demand for X shifts when the price of related good Y increases from $60 to $68. Use the information in Panel B to calculate the cross-price elasticity. Are goods X and Y substitutes or complements?
You are the manager of Taurus Technologies, and your sole competitor is Spyder Technologies. The two firms’ products are viewed as identical by most consumers. However, by making an unrecoverable fixed investment of $200, Taurus Technologies can brin..
Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital the firm is producing 1200 units of output. Write the firm's isocost equ..
Consider a small open economy in the short run where the government imposes trade tariffs on corn. (a) Given a floating exchange rate sketch a graph of the impact of the tariffs on IS-LM. (b) With a floating exchange rate how does the trade tariffs i..
Complete the following table by indicating whether or not each scenario is an example of price discrimination. Last-minute "rush" tickets can be purchased for most Broadway theater shows at a discounted price.
What are two ways that economists have tried to quantify the value of non-market work so that it can be added to GDP to produce a more inclusive measure of economic activity?
Briefly define the term or phrase and explain why it is important to (Canadian) Tax Policy.
What is the difference between the national debt and privately held federal debt? Why is the distenction between the two important?
Compute percentage change of real exchange rate between US and Japan in past year. Has US Dollar become weaker or stronger in real term.
Consider a supply and demand model of the wholesale gasoline market. If a tropical storm forces some refineries to temporarily withdraw from the market, what curve shifts and in which direction?
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