INSTRUCTIONS Balance and Labor Costs In Chapter 18 of your text, the authors pre

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INSTRUCTIONS
Balance and Labor Costs
In Chapter 18 of your text, the authors present a useful diagram, Exhibit 18.7 (Three Distinct but Related Concepts and Their Measures) illustrating the relationship between markets, wages, prices, and the cost of living as a dynamic that affects labor costs overall. What the diagram does not illustrate are some of the intangible and ethical issues affecting wages and labor costs. For example, it shows all the factors in equal intersecting circles, but it is clear that at times some factors play a more important role in the market or in a particular industry than others. One could also make an argument for the fact that ethical imbalances may overly distort one’s ability to live on a given wage.
In this discussion, present instances when you think the circles are out of balance to the extent the imbalances are unhealthy to a global economy. Use any of the information we have studied to this point, and be certain to offer at least one reference that cites data supporting your argument for an imbalance.
Please use a minimum of two outside resources in your response, and be sure to include both in-text citations and the full resource in APA format at the end of your response.
RESOURCES
Reading
Use your text to complete the following:
Review Chapter 18, “Management: Making It Work,” to understand the overall process of budgeting with managers for compensation and benefits.
Research
In preparation for this unit’s discussion, locate a minimum of two outside resources that cite data supporting an argument for imbalances between the circles in Exhibit 18.5 to the extent the imbalances are unhealthy to a global economy.
Login Information for the Compensation Book is as follows:
Vitalsource.com
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