Flashcards
Econ151A - Final Exam Review
Cards in this deck (9)
- 1What is a contract curve?The contact curve is a pareto optimal solution set. It is a line connecting the tangency points of a union's indifference curves and the firm's isoprofit curves.
- 2What is the Wagner Act of 1935 and what impact did it have on unions?The Wagner Act strengthened unions. Employers could not do the following:
1). Interfere w/employees in their exercise of their rights of self-organization and collective bargaining
2). Dominate or interfere w/the formation or administration of any labor organization.
3). Encourage or discourage union membership by discrimination in regards to hiring or tenure of employment or condition of work, except as such discrimination as might be involved in a closed shop agreement w/a union enjoying majority status.
4). Discharge or otherwise discriminate against an employee for filing charges
5). Refuse to bargain collectively. - 3What is the formula for dead-weight loss?dwl=1/2 base * height
- 4How do you calculate a firm's labor demand function?By finding where MRPe=(MR*MPe)=(P*MPe)
- 5What did the 1997 Taft Harley Act Accomplish?The Taft Harley Act limits the power of unions:
-States can be allowed to forbid closed shops "right-to-work" states
-Jurisdictional strikes & secondary boycotts are forbidden
-Unions can not donate money to federal political campaigns
-Federal government has power to obtain legal strike breaking injunctions if strike "imperils the natural health or safety..." - 6The Employee Free Choice ActAmends the National Labor Relations Act in 3 significant ways:
1). If majority workers have union status then new employees automatically have them as well.
2). 90 days to resolve negotiations or: compulsory mediation or binding arbitration.
3). Increases penalties on employers who subject workers to detriment for being involved in a union. - 7Chrylser and GMThe UAW (United Auto Workers) bailed out Chrysler and GM
- 8Farber (1990)Farber hypothesizes that the decline in union membership since the 1990s in that workers are equally sometimes more satisfied without union membership; in that case the union is costing them more than it benefits them.
- 9Order of LegistationYellow-dog contracts
La Guardia
Wagner
Taft-Harley
Landrum-Griffin Act
GM & Chrlyser bailout (current)
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- Flashcards on Econ151A - Final Exam Review, created by qhudsia on 15/03/2015.
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