Question

Does the United States’ labor supply tend to be more elastic or more inelastic? Explain the competing theories discussed in our textbook. Which seems more convincing to you? Explain your answer.

(must be at least 2-3 paragraphs)

Answer 1

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In the United States, labor supply tends to be inelastic relative to labor demand, and according to law, payroll taxes are essentially assessed evenly between workers and firms. ... Therefore, the additional burden of payroll tax is shifted completely to workers.

Flexibility of labor gracefully alludes to what happens when the absolute compensation for an occupation changes to the flexibly of laborers. In the event that a vocation is versatile, if the pay builds, the quantity of individuals ready to work will increment. The quantity of individuals ready to work would diminish if the compensation diminishes. Then again, wage increments won't influence an inelastic flexibly of labor.

In the field of education there is an awesome case of a plenteous gracefully of labor. Since pay and advantage bundles have either been cut or stayed level, many school regions are experiencing difficulty discovering educators working in their schools. People decide to do different employments as opposed to working in the study hall for different reasons, including level or lower wages and better advantage bundles. These individuals show their disappointment in the event that they don't take open positions, don't enter the calling or leave the calling. In the event that pay and advantage bundles are improved, educators ' flexibly ought to be expanded.

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