BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

Solutions

Chapter
Section
BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Discuss the factors that might prevent the equalization of wage rates for identical or comparable jobs across labor markets.

To determine

Factors that prevent the equalization of wage rates for identical jobs in labor market.

Explanation

The wage rate is determined by the market forces of demand and supply of labor. The factors are demand for labor and so on, and the supply factors are non-pecuniary aspects of job, heterogeneity of labor, training cost of labor, and cost of mobility of labor.

  • Demand for labor: The difference in skills, productivity, and attributes makes difference in the demand for labor. The difference in demand for labor causes difference in the wage rate.
  • Non-pecuniary aspect:  Non-pecuniary aspect is the supply conditions of the job. For example, working in coal mine is less attractive than working as a tour guide, and this makes difference in the supply of labors for both works and cause difference in wage...

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

What does the invisible hand of the marketplace do?

Principles of Microeconomics (MindTap Course List)

What is commodity money? What is flat money? Which kind do we use?

Principles of Economics (MindTap Course List)

How do unions affect the natural rate of unemployment?

Brief Principles of Macroeconomics (MindTap Course List)

Using the work sheet provided in Checkpoint Exercise 1, prepare closing entries in general journal form.

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

Explain the four stages of the product life-cycle.

Foundations of Business (MindTap Course List)

What is a direct cost? An indirect cost?

Cornerstones of Cost Management (Cornerstones Series)

Should firms require higher rates of return on foreign projects than on identical projects located at home? Exp...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Describe marketing uses of branding

MKTG 12:STUDENT ED.-TEXT