This topic contains a solution. Click here to go to the answer

Author Question: The expansion of Social Security in 1956 added _____. a. cash benefits to surviving dependents ... (Read 68 times)

nramada

  • Hero Member
  • *****
  • Posts: 580
The expansion of Social Security in 1956 added _____.
 
  a. cash benefits to surviving dependents
  b. disability insurance to those in the program
  c. medical benefits to those over 65
   d. medical benefits to surviving dependents

Question 2

Unions have generally been far more successful in organizing and raising wages in skilled trades such as carpentry than in unskilled trades. Use the laws of derived demand to explain why.
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaaaaaaa

  • Sr. Member
  • ****
  • Posts: 341
Answer to Question 1

b

Answer to Question 2

There are at least two reasons. One is that the elasticity of substitution between skilled workers and other factors of production is low; thus firms cannot substitute some other factor of production if wages rise. Secondly, skilled labor is likely to be a relatively small percentage of total costs, and thus raising wages does not cause a large increase in total costs (which would lead to a reduction in supply, an increase in price, and a decrease in output). Unskilled labor has more substitutes and is likely to be a larger share of costs for firms that employ it, and thus if unions raise wages, firms employ other factors of production, and many workers will be laid off.




nramada

  • Member
  • Posts: 580
Reply 2 on: Jul 1, 2018
:D TYSM


Laurenleakan

  • Member
  • Posts: 309
Reply 3 on: Yesterday
Excellent

 

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

For a complete list of videos, visit our video library