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Labour

QuestionAnswer
State economic influences on an individual firm's demand for labour? Marginal revenue productivity of labour, Minimum wage rate, demand for output, price of other factors of production(including capital), state subsidies, taxation rates on the firm's profits, payroll taxes/employers rate of PRSI, availability of technology
State reasons for lower wage rates earned by women in the Irish economy? Discrimination in the workplace, Lack of enforcement by state agencies, balancing work & family responsibilities, 'glass ceiling', different jobs/different sectors, undervaluing of women's work & skills, gender role of women/tradition
State economic consequences of a high rate of youth unemployment on the Irish economy? Increased government expenditure, reduced government revenue, loss on return on investment in education, emigration, social costs to society, increased demand for places in third level, less incentive for business to invest.
State measures to reduce the public sector wage bill? reduce the number employed in the sector, reduce rates of pay per employee, change the terms of employment, change pension entitlements, outsource services e.g.IT/Payroll
State measures the government could take to reduce the level of unemployment? Reduce taxation,subsidies additional labour employed, reduce costs for business, government prudent management of the economy, infrastructural development, maintain a low corporation tax base, investment in education/training, banking stability
Define wage drift? When wage levels rise above the negotiated levels.
Define cyclical unemployment? Unemployment that results from reduced demand for goods and services/recession/decline in trade cycles/reduced aggregate demand
State the factors which influence the efficiency of labour as a factor of production? Education/training/qualifications, innate talent of the worker, quality of the other factors, availability of other factors, living conditions of the workforce, degree of specialisation, climatic conditions, management expertise, commitment of the worker.
State the economic advantages of reducing the national minimum wage? Lower labour costs, lower selling prices, increased demand/protection of jobs, investment stimulus, reduced risk of
State the economic disadvantages of reducing the national minimum wage? Reduced standard of living, reduced aggregate demand/spending, impact on general wage levels, workers on lower incomes suffer most, discourage employment.
State the factors that influence the size of the labour force?/State factors affecting the supply of labour to the Irish economy? Wage levels within the economy/backward bending supply of labour, structure of population/size, participation rate, rates of income tax within the economy, labour mobility, government policies.
State the sources for unemployment statistics in Ireland? Quarterly National Household Survey(QNHS), Live Register, Census(of population).
State the main causes of the recent increases in unemployment in the Irish economy? Economic recession/ cyclical unemployment, re-location of industry, Irish companies exporting to US and UK, banking crisis, uncertainty for the future, reliance on construction sector/structural unemployment
State a method for determining wage levels in the public sector wage bill? Pay comparability, benchmarking
Define geographical mobility? The ability/ease of a worker to move from one area to another.
Define occupational mobility? The ability/ease of a worker to move from one job to another.
State the economic policies which affect geographical mobility? Housing, educational facilities, social infrastructure,supports by government , information/knowledge.
State the economic policies for occupational mobility of labour? Educational courses, training/re-training, government policies, trade union barriers
State the factors, other than MRP which influence the wage rates paid to different categories of workers? Different skills, training,educational qualifications, nature & conditions of the job, negotiating strength of the workers trade union, tradition attaching to certain jobs, possession of innate talents, gender bias, monetary & non-monetary benefits.
State the different types of supply curves in relation to labour? Normal supply curve, backward bending supply curve, minimum price,perfectly inelastic supply curve.
State the limitations of the Live Register? It included the following but it should not be: people who are legitimately working part time and signing on, those working in the black economy, those not actively seeking employment, those signing for PRSI credits are are not employed.
Created by: deborahh