Research how wage inequality is measured and if it is present in your chosen industry. My chosen industry is the automotive industry. Find two sources to help you answer the following questions about the industry you chose.
- Describe any current or past news events related to wage inequality in your chosen industry.
- What was the industry's method for determining that there was an inequality? Explain.
The response addresses the queries posted in 707 words with references.
//Before discussing about current events and trends in wage inequality in automotive industry, it is important to gain knowledge about the automotive industry. One should know about the operations and activities of this industry//
The automotive industry is known to be an industry which is engaged in the designing, manufacturing, marketing and sale of the vehicles. Almost all developed and developing countries in the past 20 years have gone through the trends of wage inequality. Many researchers in this field have emphasized the causes like trade and technical skill-based changes in the industry. The wages are the reward for the skills, physical and mental efforts applied by the individual while performing their job. Therefore, it tends to vary with individual's performance. These inequalities may also arise because of the factors like enhancement in the demand of more educated workers, technological innovations, globalization, and trade with countries abundant in unskilled labor and the emigration and immigration of the public from one country to the other (Cimpean, 2008).
//Given above is the explanation ...
This response addresses the queries posed in 544 words and APA references.
Automotive Industry Research
Please help me with the following:
Write a paper that provides an economic profile of the automotive manufacturing industry. Discuss how the following impacts this industry.
1. Shifts and price elasticity of supply and demand.
2. Positive and negative externalities.
3. Wage inequality.
4. Monetary and fiscal policies.
Conclude this paper with final thoughts on:
1. How the economy affects the success of this industry.
2. Economic influences that can affect this industry in a negative way.