...ECON111 Microeconomics Group Presentation Name | Student ID | Signature | | | | | | | | | | | | | Introduction For more than a year, the Rudd government has been had a contentious issue with the process of introducing an Emission Trading Scheme (ETS). The Carbon Pollution Reduction Scheme (CPRS) was devised to reduce greenhouse gases and Australia’s carbon pollution (DCC 2009). However, the bills were passed by the House of Representatives but have been continually rejected by the Senate as politicians worry about the ways to deal with carbon pollution reduction and to manage the climate changes. The proposed legislation is planned to be implemented by 2011 but this legislation hasn't been approved by the Senate because the opposite politicians ask better profits and they are concerned about jobs at risk as stated above (O' Connor 2009). This paper will examine the purpose of the CPRS by examining the ETS, side taxation and reduction of carbon emissions. First, we'll begin with the tax incident create by the ETS and then the impacts on the elasticity of demand and supply by the tax. Finally, the amendments asked by the government and the effect of this to the market. What is the Emissions Trading Scheme Based on the Emissions Trading Scheme, all companies, which emit carbon, must purchase 'permits' to get the rights to emit a specific amount of greenhouse gases (Garnaut 2008). With the first price of permits set by the government...
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...unions, I can see why employees sometimes fight for unions to be formed, as unions can assist them in their fight to receive fair wages, health benefits, reasonable working hours, and opportunties to be promoted within the company. However, the impact that unions have on investments is major because investments drop significantly after a union organizes in a company. If there are no investments, the company will shrink and become less competive. So, how can unions impact the econcomy for the better, especially if they are causing jobs to be cut instead of expanded as non-union jobs are? After researching this topic a little deeper, I noticed that most union-based jobs prefer layoffs based on seniority instead of pay cuts. Union contract negoation allows a company to lay off newly hired staff instead of cutting the pay of senior staff in order to maintain job openings for lower-level staff. The labor union’s primary function is to make sure that workers receive fair pay and to represent employees in the event that disagreements occur with their employer. For unions to compete with an ever-changing economy, they will have to train and equip workers with the resources needed to develop their skills on the job. Union representatives and human resource managers oftentimes come together and make agreements that are beneficial for both the employer and employee. According to Muhl (2001), the US has been “at will, or terminable by either the employer or employee for any reason whatsoever”...
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