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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

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

Using the theory developed in this chapter, explain the following:

  1. a. Why a worker in Ethiopia is likely to earn much less than a worker in Japan
  2. b. Why the army expects recruitment to rise during economic recessions
  3. c. Why basketball stars earn relatively large incomes
  4. d. Why jobs that carry a health risk offer higher pay than jobs that do not, ceteris paribus

(a)

To determine

Reason for less income in Ethiopia than in Japan.

Explanation

While comparing Ethiopia and Japan, the productivity of labor in Japan is much higher than that of Ethiopia. This is due to the better training and technological advances...

(b)

To determine

Reason for increasing army recruitment during recession.

(c)

To determine

Reason for large income earnings of basketball stars.

(d)

To determine

Reason for paying high wage that jobs carry health risk than jobs that do not.

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