LABOR ECONOMICS (LL+ACCESS)
8th Edition
ISBN: 9781264909339
Author: BORJAS
Publisher: MCG
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Question
Chapter 8, Problem 7RQ
To determine
Explain the given statement.
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Students have asked these similar questions
How should one interpret the fact that—all other things equal—workers with a lot of seniority earn more than newly hired workers?
How should one interpret the fact that workers with a lot of seniority earn more than newly hired workers?
When would you see the greatest gain if there is a compensating differential built into your salary?
The differential is for a negative risk that you care about more than most people do.
The differential is for a large negative risk that you don't care about as much as most people do.
The differential is for a positive job aspect that you don't care about as much as most people do.
The differential is for a slightly positive job aspect that you care about more than most people do.
Chapter 8 Solutions
LABOR ECONOMICS (LL+ACCESS)
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- How do quits and layoffs help improve labor market efficiency?arrow_forwardThree coworkers work for the same employer. Their jobs are warehouse manager, office manager, and truck driver. The sum of the annual salaries of the warehouse manager and office manager is $82,000. The office manager makes $4,000 more than the truck driver annually. The annual salaries of the warehouse manager and the truck driver total $78,000. What is the annual salary of each of the co-workers?arrow_forwardAbout what proportion of the variation of wages across workers is explained by factors that can be measured? What are the other factors that explain wage differences but are difficult to measure?arrow_forward
- Why does the salary gap persist?arrow_forwardThink of a job that either you or a friend/relative held that paid a wage that you thought was either unfair or inequitable compared to the wages or salaries of other positions within the business or within the wider business community. Answer the following questions in relation to that example. On what basis do you think the wage was set? I.e. What factors influenced how much the organization valued the role? Why did you think it was unfair? If there was an opportunity to be covered by a Union contract/agreement, do you think there would have been an increase/decrease in the wage? If you were the employer, what would cause you to increase the wage for that role? and finally, 5. Do you think that the wages/salaries of the main "jobs" in our society are allocated fairly? Provide an example of a role that you think is highly undervalued and explain why. For example, should CEOs and celebrities earn millions of dollars each year compared to child care workers or stay at home parents who…arrow_forward
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