Question 1

List and discuss the sources of conflict between employers and employees and the rate of exploitation.
-Explain why employers and employees bargain or struggle over necessary and surplus labor. What are the three main sources of conflict?

Accepted Answer

The answer of List and discuss the sources of conflict...

Question 2

List and discuss the sources of conflict between employers and employees and the rate of exploitation.
-If an employee's compensation rises, what happens to necessary labor? Profits for the employer?

Accepted Answer

The answer of List and discuss the sources of conflict...

Question 3

List and discuss the sources of conflict between employers and employees and the rate of exploitation.
-Even if employee compensation rises and the number of hours of work remains unchanged, why might an employer still make the same amount of profit or even increase profits?

Accepted Answer

The answer of List and discuss the sources of conflict...

Question 4

List and discuss the sources of conflict between employers and employees and the rate of exploitation.
-Why can't an employee be paid below a wage floor? Why wouldn't an employer pay above a wage ceiling?

Accepted Answer

The answer of List and discuss the sources of conflict...

Question 5

Give a brief overview of the history of labor conflicts.
-What factors would give employers power as they bargain with employees over compensation, hours, and effort? Explain.

Accepted Answer

The answer of Give a brief overview of the history...

Question 6

Give a brief overview of the history of labor conflicts.
-What factors would give employees power as they bargain with employers over compensation, hours, and effort? Explain.

Accepted Answer

The answer of Give a brief overview of the history...

Question 7

Give a brief overview of the history of labor conflicts.
-When was union membership at its highest level? Why?

Accepted Answer

The answer of Give a brief overview of the history...

Question 8

Give a brief overview of the history of labor conflicts.
-What has happened to union membership since the 1950s? Why?

Accepted Answer

The answer of Give a brief overview of the history...

Question 9

Suppose Lisa works an 8 hour day copyediting books at a wage of $10. During that time she adds $160 to the value of the books sold in the market.

Accepted Answer

The answer of Suppose Lisa works an 8 hour day...

Question 10

Suppose Paul works as a programmer at a salary of $300 per day. During that time he produces programs that are sold for $600.

Accepted Answer

Profits are calculated by subtracting costs (Paul's salary of $300) from revenue (programs sold for $600), resulting in $300 profit per day.

Question 11

Susan earns $100 per day in wages for an 8 hour day. Her employer earns $100 per day in profits.

Accepted Answer

Necessary labor time refers to the amount of work time required for a worker to produce the equivalent value of their wage. Surplus labor time is the additional work time beyond the necessary labor time, during which the worker produces surplus value for the employer. If Susan earns $100 per day and her employer also earns $100 in profits, it implies that half of her working day (4 hours) generates her wage (necessary labor time), and the other half (4 hours) generates profit for her employer (surplus labor time).

Question 12

Progressive economists define the rate of exploitation as

Accepted Answer

Progressive economists define the rate of exploitation as the ratio of profit to wages, as it measures the surplus value extracted from workers by capitalists.

Question 13

Alfred earns $6 per hour and works an 8 hour day. He produces a product during that time that sells for $96. What is the rate of exploitation?

Accepted Answer

The rate of exploitation is calculated as (Surplus Value) / (Variable Capital). Surplus Value is the difference between the value of the product ($96) and the wages paid ($48, which is $6/hour * 8 hours). So, Surplus Value is $48. Variable Capital is the wages paid, which is $48. Therefore, the rate of exploitation is $48 / $48 = 1.0.

Question 14

According to the text, there are about 3 hours of surplus labor a day and 5 hours of necessary labor. What is the rate of exploitation according to this data?

Accepted Answer

The answer of According to the text, there are about...

Question 15

A wage floor in any society is equal to

Accepted Answer

A wage floor is the minimum amount of money that an employer cannot legally pay an employee for their work. The subsistence wage refers to the minimum amount of money necessary for an individual to meet their basic needs, such as food, shelter, and clothing. Therefore, a wage floor is generally equal to the subsistence wage, as paying less than this amount would mean that the employee cannot meet their basic needs. The federal minimum wage in the United States is one example of a wage floor, but it may not necessarily be equal to the subsistence wage in all areas. The wage earned by necessary labor or surplus labor does not necessarily determine the wage floor.

Question 16

The AFL-CIO is a voluntary assocation of national and international labor unions. What does AFL stand for in the name, AFL-CIO?

Accepted Answer

AFL stands for American Federation of Labor.

Question 17

A wage ceiling in any society is equal to

Accepted Answer

A wage ceiling in any society is equal to a wage with no surplus labor.

Question 18

In the classic film, Modern Times Charlie Chaplin works on an assembly line that continues to move faster and faster, and Charlie struggles harder and harder to keep u

Accepted Answer

Labor intensity refers to the level of exertion required from workers to keep up with the pace of production, which was the central issue Charlie Chaplin's character faced in Modern Times.

Quiz 19: Inequality, Exploitation, and Economic Institutions

List and discuss the sources of conflict between employers and employees and the rate of exploitation. -Explain why employers and employees bargain or struggle over necessary and surplus labor. What are the three main sources of conflict?

List and discuss the sources of conflict between employers and employees and the rate of exploitation. -If an employee's compensation rises, what happens to necessary labor? Profits for the employer?

List and discuss the sources of conflict between employers and employees and the rate of exploitation. -Even if employee compensation rises and the number of hours of work remains unchanged, why might an employer still make the same amount of profit or even increase profits?

List and discuss the sources of conflict between employers and employees and the rate of exploitation. -Why can't an employee be paid below a wage floor? Why wouldn't an employer pay above a wage ceiling?

Give a brief overview of the history of labor conflicts. -What factors would give employers power as they bargain with employees over compensation, hours, and effort? Explain.

Give a brief overview of the history of labor conflicts. -What factors would give employees power as they bargain with employers over compensation, hours, and effort? Explain.

Give a brief overview of the history of labor conflicts. -When was union membership at its highest level? Why?

Give a brief overview of the history of labor conflicts. -What has happened to union membership since the 1950s? Why?

Suppose Lisa works an 8 hour day copyediting books at a wage of $10. During that time she adds $160 to the value of the books sold in the market.

Suppose Paul works as a programmer at a salary of $300 per day. During that time he produces programs that are sold for $600.

Susan earns $100 per day in wages for an 8 hour day. Her employer earns $100 per day in profits.

Progressive economists define the rate of exploitation as

Alfred earns $6 per hour and works an 8 hour day. He produces a product during that time that sells for $96. What is the rate of exploitation?

According to the text, there are about 3 hours of surplus labor a day and 5 hours of necessary labor. What is the rate of exploitation according to this data?

A wage floor in any society is equal to

The AFL-CIO is a voluntary assocation of national and international labor unions. What does AFL stand for in the name, AFL-CIO?

A wage ceiling in any society is equal to

In the classic film, Modern Times Charlie Chaplin works on an assembly line that continues to move faster and faster, and Charlie struggles harder and harder to keep u