Principles Of Economics, Student Value Edition
12th Edition
ISBN: 9780134079288
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: Prentice Hall
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Question
Chapter 18, Problem 3.3P
To determine
Identify the concept of human capital and compensation differentials.
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Students have asked these similar questions
What is meant by the terms “investment in human capital” and “compensating wage differences”? Use these concepts to explain wage differentials.
The term that describes the difference in wage rates in the labour market is called:
Occupational wage structure
Wage differential
Adjustment Lag
Compensating wage differentials
Labour market barriers
According to statistics, the main reason for male-female wage differential is:
Males work longer hours
Females work longer hours
Discrimination in wage rates
Males have more experince
Females are more educated
Chapter 18 Solutions
Principles Of Economics, Student Value Edition
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- According to 2014 data on the U.S. population, which of the following groups of teenagers (ages 16-19) had the lowest labor-force participation rate? a. white males b. white females c. black males d. black femalesarrow_forwardCategory Number of Persons Part Time Employees 30 million People Looking for Work in the last 4 weeks and Have not Worked in the Last Week 9.2 million Full Time Employees 101 million Retirees 15.8 million Full Time Students 13 million Workers that haven't looked because they are marginally attached 4.9 million Workers that haven't looked because they are discouraged 4.1 million Assume the table above includes the population of all individuals age 16 or older in this country. What is the labor force participation rate (as a percentage, but omit the % sign, rounded to the nearest tenth)? Note:- Please give me proper calculation with correct answer otherwise i give downvote Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.arrow_forwardDetermine which of the three principle sources of wage differentials is most likely to account for each scenario. * A licensed physician earns more than a nurse: differences in total human capital compensating differentials differences in talent or ability * City sanitation workers earn more than park maintenance workers: compensating differentials differences in talent or ability differences in total human capital * Physical therapists earn more than massage therapists. differences in talent or ability compensating differentials differences in total human capital * Jack, a 22-year-old soccer player, earns more than Jim, who is the same age and has the same level of experience. compensating differentials differences in total human capital differences in talent or abilityarrow_forward
- Referring to the information provided in the table, what is the adult labor-force participation rate in Meditor? Labor Data for Adults (ages 16 and older) in Meditorarrow_forwardThe following statistic is reported by the U.S. Bureau of Labor Statistics: in 2014, women’s average weekly earnings is 83% of men’s average weekly earnings. This statistic is referred to, in the media, as the “gender wage gap”. Possible reasons wages vary among workers, and thus the average weekly earnings for women is different than that of men, include which of the following? a.human capital b.compensating wage differentials c.job search uncertainty d.All of the above.arrow_forwardWhat is the combined rent, interest, and profit share of the income earned by Americans in a typical year if proprietors’ income is included within the labor (wage) share?arrow_forward
- Which of the following is a compensating wage differential ? Extensive physical effort Stressful work environment Unattractive hours of work Smoke All of the abovearrow_forwardIn the middle of each month, the statistical office of Urbanville takes a sample survey of 2,000 people over the age of 16, to determine their labor force status in the previous week. Each respondent is allocated to one of these categories: a) Worked full-time for wages or salary b) Worked part-time for wages or salary c) Self-employed d) Did not work for pay, but looked for work e) Did not work; did not look for work because she thought jobs were not available f) Did not work for pay because she did not want to The results for the second half of 2010 were July August September a) 901 885 868 b) 150 160 170 c) 200 198 196 d) 72 78 85 e) 32 35 38 f) 645 644 642 For each month, calculate and fill in the table below.…arrow_forward
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