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This Concept Map, created with IHMC CmapTools, has information related to: Econs- Income Inequality and Govt Intervention, Movement ???? *Chaning prices of labour, Income Inequality and Govt Intervention can be *Incentive *Signals, Trade Unions aims to * Incr. wages & working cond * protect workers against unfair practices *co-op with govt in fufilling nat. economic policy--full employment,tech progress, *diff ocs *same ocs *bet. sexes/races cos of *discriminatn *MPP *MR diff *diff job type *diff human capital, Ineq only in S/R coz nd time to reach eqm, Real World Mkt Imperfect ???? Wage Differentials EXIST, Dd of Labour factors affecting Labour Ss, Lorenz Curve ???? compl. Y eq = 45deg line Inc Y ineq if curve drops more below 45deg line, Labour Dd causing Shift, Can be measured by ???? Lorenz Curve, Influencing however bargainin str, affected by *Ease of factor substn *Macroecon Influences (econ grwth) *Proportn of total cost made up by Labour, Assume PC mkt which mns *All workers have pfect ability *pfect L mobility *all jobs equally attractive *workers+employers have pfect knowledge, *All workers have pfect ability *pfect L mobility *all jobs equally attractive *workers+employers have pfect knowledge ???? Ineq only in S/R, Income Inequality and Govt Intervention causes of Income Inequality *Unequal Factor Endowment *Diff in factor prices bet. n within factors, Labour Dd causing Movement, Wage Differentials EXIST because *diff in L dd *Diff in inborn skills *diff in length/cost of trng & edu *diff in non-$ attributes of job (eg risk) *str. of TU(BTEs), Can be measured by ???? Gini Coefficient, *All workers have pfect ability *pfect L mobility *all jobs equally attractive *workers+employers have pfect knowledge which predicts Changes in L dd cond only giv rise to temp wage diffs, Influencing ???? Dd of Labour, Income Inequality and Govt Intervention causes of Income Inequality Can be measured by