labour markets Flashcards
1
Q
derived demand
A
2020:4.9% unemployment
due to consumption drop and investment dropm
2
Q
trade unions
A
thatcher and Friedman believe that TU’s lead to cost push inflation and real wage inflexibility
also leads to pay discrimination as employers discriminate against those who they think aren’t worth the higher wage
3
Q
pay discrimination
A
2019:white irish workers earn hourly 17.55 whilst black African workers earn 10.50
April 2022:gender ay gap 8.3%
