Answer the following statements true (T) or false (F)
Despite the poor working conditions and low wages, one safeguard that employees had in the early part of the 20th century, was stability in employment because legally employers needed a good reason to fire someone.
Mass manufacturing can be at least partially blamed for the labor problems that existed in the early 20th century U.S. labor markets.
The labor problem of the early 20th century was largely a worker or human rights problem and not a business problem. From a practical standpoint, these practices actually made very good business sense.
The mainstream economic perspective holds that efficiency, equity and voice in the employment relationship are maintained through competitive markets which lead to a fair price where labor is paid equal to the value of its contribution.
As long as competition exists in a market, the mainstream economics school of thought would suggest that there is no "labor problem" even if wages are low, work hours are long, etc.
FALSE
TRUE
FALSE
TRUE
TRUE
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