Qassume that company abc is replacing workers on the, Ask an Expert

Economics

Q. Assume that Company ABC is replacing workers on the manufacturing floor with robots and other machines. Company XYZ uses overseas labor that is much less expensive than hiring floor workers. On the one hand, this will allow Company ABC to compete with Company XYZ. On the other hand, the automation will eliminate many "floor jobs."

1. Are you concerned that automation may increase unemployment or underemployment in the United States and around the world? Why or why not?

2. Can innovation, education, and knowledge somehow change this? How?

3. As to Company XYZ, what are the advantages of it using cheap labor from overseas rather than (a) hiring floor workers in the United States or (b) using robots and machines?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9723956

Have any Question?Write your Review or question?

Related Questions in Business Economics

Why do we say there is no unemployment in our standard

Why do we say there is no unemployment in our standard frictionless model? And why do we HAVE unemployment in a labor market with frictions?

A how can use the criteria for evaluating alternative

a) How can use the criteria for evaluating alternative methods of government finance to assess the most important revenue proposals of the 2018/19 budget. b) In the case tax is most important revenue proposals of the 201 ...

What does the term the ten principles of economics and how

what does the term the Ten Principles of Economics and how it's applied to the consumer buying trends?

One box has 4 cards in it of the same suit numbered 2 4 6

One box has 4 cards in it of the same suit numbered 2, 4, 6, and 9. A second box contains 3 cards again of the same suit numbered 2, 3 and 6. One card is drawn at random from each box. Draw the tree diagram showing the c ...

You work in the quality control office for a company that

You work in the quality control office for a company that manufactures fluorescent light bulbs. Your company offers a 4-year (1461 day) warranty on these bulbs. The average life span of your bulbs is 1600 days with a sta ...

What are some challenges in delivering health services in

What are some challenges in delivering health services in the peripheral areas?

Imagine an election with just two candidates candidate a

Imagine an election with just two candidates. Candidate A asks her consultant to conduct a poll to see if she (Candidate A) is leading. What is the "null hypothesis" value that is being "tested" in this example? Your an ...

Assume that combined with borrowing and irrational

Assume that combined with borrowing and irrational exuberance have driven up the value of existing financial securities at a geometric rate, specifically from $4 to $8 to $16 to $32 to $64 to $128 over a six-year time pe ...

A monopolist faces a market demand curve given by py 100 y

A monopolist faces a market demand curve given by P(y) = 100 y. Its cost function is c(y) = y 2 + 20. (a) Find its profit - maximizing output level y and the market price p(y ). (b) Calculate its total revenue, total cos ...

A city of flies has a population that doubles once every

A city of flies has a population that doubles once every day. The flies go extinct from overpopulation on the 30th day. On which day was the fly population halfway from extinction?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert