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Assignment Questions

Wage Determination and Benefits

Instructions:
2 full pages, 1 1/2 spaced at 12-point font, preferably Times New Roman. It is extremely important that there are no grammatical, construction or spelling errors.
This is an economics final exam essay answering the following question:
Diagram and explain wage and benefit determination and the assumption of union (or agency) shop equilibrium diagram and explain minimum wage, and the argument that such intervention causes unemployment. Consider the algeba of surplus value, the macro-micro implications of surplus value in measures and effects of productivity, and the fundamental fallacy embedded in the labour theory of value.

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