Even if labour markets were perfectly competitive, income would be unequally distributed because A) some people are more intelligent. B) some people have more property. C) some people have more power. D) all of the above
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Even if labour markets were
- A) some people are more intelligent. B) some people have more property.
- C) some people have more power. D) all of the above
Step by step
Solved in 2 steps
- The factor distribution of income: refers to the pattern of income that people derive from different factors of production. shows how much income people get from labor compared to land and capital. hasn't changed substantially in the last century in the United States. All of these are true.Analyse the factors determining the wage rate in the labour market.The distribution of income is correlated with the distribution of human capital. A) True B) False
- True or False and explain why. In the labour market, it is assumed that workers are attempting to maximize their utility in monetary terms only.Show that the competitive labor market compensates workers for the probability that they will be laid off.Which of the following is a compensating wage differential ? Extensive physical effort Stressful work environment Unattractive hours of work Smoke All of the above
- Assume that the labour market for mechanics is competitive and that it is differentiated into two groups: male and female. Assume that the mechanics in this market have vehicle repair ability regardless of whether they are male or female. Currently, the equilibrium wage in the female market is lower than in the male market. Further assume that the market for vehicle repair is competitive. If some consumers in the market for vehicle repair have a strong preference for having their vehicle repaired by a male mechanic, what will result? Question 34 options: The difference in wages will eventually disappear since vehicle repair is a homogeneous good. Mechanic shops that hire male mechanics will be able to charge a higher price for vehicle repair. Mechanic shops that hire female mechanics will be much more profitable. Mechanic shops that hire male mechanics will be much more profitable.Which broader measure of underemployed labor is largest? A. discouraged workers. B. people employed part time for noneconomic reasons C. other marginally attached workers D. people employed part time for economic reasonsPeople in which of the following categories are a subset of a marginally attached ? (a) discouraged workers (b) underemployed workers (c) workers with part time employment that work to full time (d) workers with jobs for which they are over qualified
- Labor economics What is positive/negative selection of migrants? What determines whether migrants are positive selected?Discuss the implications of Income Distribution in terms of Skill in the LabourMarket?The concept of investment in human capital indicates that: union workers are better educated and more productive than nonunion workers. expenditures on education can be explained in essentially the same way as expenditures on machinery and equipment. worker productivity correlates negatively with annual earnings. the level of education is unrelated to the level of one's income.
