Principles of Economics, 7th Edition (MindTap Course List)
7th Edition
ISBN: 9781285165875
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 19, Problem 1QCMC
To determine
Example of human capital.
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A business consulting firm hires Robin because shewas a math major in college. Her new job does notrequire any of the mathematics she learned, but thefirm believes that anyone who can graduate with amath degree must be very smart. This is an example ofa. a compensating differential.b. human capital.c. signaling.d. efficiency wages
Suppose high-wage workers are more likely than low-wage workers to move to a new state for a better job. a. Explain how this migration pattern can be due solely to differences in the distribution of wages. b. Explain how this migration pattern can take place even if the cost to move is greater for high-wage workers.
Explain the dual labor market?
Chapter 19 Solutions
Principles of Economics, 7th Edition (MindTap Course List)
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- Labor economics What is positive/negative selection of migrants? What determines whether migrants are positive selected?arrow_forwardExplain Dual labor market theory?arrow_forwardOver the long run, ____________ per hour is the most important determinant of the average wage level in any economy. Question options: a) demand b) productivity c) supply d) dollarsarrow_forward
- Three concepts dominate the discussion of the labor market. The fundamentals dominate the discussion, supply and demand. The fundamentals are in large part responsible for the wages we observe in the labor markets. However, institutions play a major role as well. What is meant by institutions?arrow_forwardExplain the market and non-market factors that how wages may be determined in a labour market.arrow_forwardSuppose that Frances receives higher pay at her workplace than her colleagues do, even though they perform essentially the same type of work. If Frances's productivity is about 25% higher than that of each of her colleagues, which of the following wage concepts can explain this wage disparity? Check all that apply. a) Efficiency wages b)The superstar phenomenon c) Discrimination d) Human capital e) Natural abilityarrow_forward
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