MAN3240 Hochwarter Fall 2013 Exam 1 1 What are the basic ideas presented in the Ripple Effect video Husband loses his job goes from eating out 3 days a week to 1 day a week restaurant is serving fewer guests for lunch fewer people eating means tips for servers servers are cutting back no dog sitting or going out at night restaurant cut back on purchasing meat meat company cut back 5 on employees When people lose their jobs there is a domino affect between unrelated and interdependent businesses What industries were mentioned as affected both directly and indirectly Directly family who s member loses a job restaurant meat company Indirectly dog sitter bartender meat cutters employees 2 Be able to discuss the changes in individual savings patterns during the most recent recessionary period Two years before the most recent recessionary period savings was at an all time low between 2006 2008 personal savings was increasing Once the recession began savings skyrocketed and then fluctuated slightly but still remained high After the recession ended in 2010 savings decreased again 3 What have been the trends in multigenerational housing over the years What predictions are given for where this trend will go in the years to come as projected Multigenerational housing was high in the 40s and was decreasing until the 80s after that it has only been rising By 2012 20 3 of households will be multigenerational By 2025 29 8 of households will be multigenerational 4 Understand the general findings from the Time Magazine article claiming that Mothers are Tougher on Kids During Recession An uptick in strict maternal behavior stems from anticipation of hard times rather than actual exposure city where they resided Mothers treated their children harsher for each 10 increase in the unemployment rate in the Women with a sensitive gene variation of the DRD2 Taq1A genotype which is connected to the release of dopamine were more inclined to engage in maternal misbehavior during the recession The study did not find any statistical significance resulting in an increase in behavior from changes in individual family income Future adversity can lead to more negative behavior People can adjust to difficult circumstances once they know what to expect whereas fear or uncertainty about the future is more difficult to deal with 5 Know the factors that have caused more and more middle class families to end up homeless Layoff for jobs with few alternatives Multiple family commitments divorce kids Most people don t have enough savings for the rough patches Perceived as overqualified for many jobs Used to have decent insurance not now Kids daycare expenses 50 a day won t do it People cannot afford their houses and the banks are taking them 6 A number of reasons have been given for companies failing to hire more workers even though it may seem that they are in a position to do so What were the factors discussed Companies seem to be doing okay with what they have Companies have trimmed the fat in the past few years and got better at doing things with less people Earnings may sound good but everything is relative Uncertainty in government necessities and money Potentially cheaper labor elsewhere Fiscal policy 7 What factors caused Detroit to file for bankruptcy in the past year as noted in the video Population has been declining precipitously Fewer people paying taxes Owe more than 18 billion decades in the making Downfall of the auto industry Poor tax collection Corruption in government 8 How does the recession currently influence what goes on at work despite the fact that it allegedly ended several years ago What were the findings of a recent survey Just know the findings not the numbers The effects of the recession remain a distraction at work Recession related stress is still contributing to the workers dissatisfaction and frustration with work feelings of isolation pessimism about the future of their companies career disappointment job anxiety and burnout and perceptions that co workers are overly political and self serving 44 said they still must work harder as a result of the recession in their organization 49 reported they still must do more with less due to the recession 34 indicated management still cuts them less slack when compared to pre recession levels 30 said their job security remains lower than its pre recession level 46 indicated management is stingier than before the start o the recession 9 The recession has caused many to question the importance of work relative to other aspects of life In this regard what information did the Christian Sciences Monitor article provide in support of such a claim see Cut to the Chase slide The financial downturn was a wakeup call for many people who thought they were doing what was best for their family but who now question the choices they made Nearly 40 of workers admitted the job was not as important to them now as it once was and 23 realized they had put it ahead of family and free time 70 of workers said most days at work it felt like the day would never end The impact of the recession was different on men and women While men thought their job was not giving them what they thought it would and left them feeling stressed and like they were going nowhere women felt their job was taking them further and further away from family 10 Know how the gender wage gap changes over the course of one s career What are the numbers for those 30 and younger as well as 55 and older Over the course of one s career the gender age gap only increases It goes from bad to really bad as workers age The numbers for those 30 and younger are not that high the difference in pay is 7 8 to 0 difference in pay between men and women The numbers for those 55 and older are between 27 30 difference in pay between men and women workers 11 The number of breadwinner mothers and co breadwinner mothers has changed in recent years In 2009 as reported in the 2012 study what was the current percentage of each How does this compare to 1967 2009 Breadwinner mothers 41 4 2009 Co breadwinner mothers 22 5 2009 Total 63 9 1967 breadwinner mothers 11 7 1967 co breadwinner mothers 16 1967 Total 27 7 2009 has more than doubled the amount of co breadwinner and breadwinner mothers mothers are being forced into participating in labor and work 12 Read the Gender Wage Gap Myth article Describe the way that the information was calculated including any limitations in the way the final results were determined see paragraph
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