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The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695 Exercise 9
Employers and unions sometimes negotiate two-tier contracts, under which current employees are paid according to a high wage scale, but new employees accept a much lower scale.
(a) How might such an arrangement initially benefit each of the following four parties: employers, current employees, union leaders, and new employees?
(b) For which of these four groups would such a two-tier contract tend to become less satisfactory as time went by?
(a) How might such an arrangement initially benefit each of the following four parties: employers, current employees, union leaders, and new employees?
(b) For which of these four groups would such a two-tier contract tend to become less satisfactory as time went by?
Explanation
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Two-tier wage contracts is a payroll sys...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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