Microeconomics: Private and Public Choice (MindTap Course List)
15th Edition
ISBN: 9781285453569
Author: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher: Cengage Learning
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Question
Chapter ST8, Problem 5CQ
To determine
Influence of earnings in dangerous working condition of men.
Expert Solution & Answer
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Check out a sample textbook solutionStudents have asked these similar questions
To what extent are flexible work arrangements a positive for workers? For employers?
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.
For each of the scenarios in the following table, indicate the most likely reason for the difference in earnings.
Differences in
Human Capital
Scenario
Major league hockey goalies earn more than minor league hockey goalies.
Two automotive technicians have the same amount of schooling and work
experience, but earn different wages. The first works the day shift for an
auto manufacturer factory for an annual wage of $54,000 per year, and
the second works the night shift for the same company for an annual
wage of $60,000 per year.
Research done in the United States, based on U.S. Census data, finds that
-during an adult's working life-high school graduates earn an average of
$1.2 million, associate's degree holders earn about $1.6 million, and
bachelor's degree holders earn about $2.1 million.
Compensating
Differential
Differences
in Ability
Labor
Unions
O
O
Chapter ST8 Solutions
Microeconomics: Private and Public Choice (MindTap Course List)
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Similar questions
- Consider discrimination in employment. Suppose dark-haired employees don't like working with blonde employees. Could this discrimination explain lower wages for blond employees? If such a pay differential existed, what would an entrepreneur who wants to maximize profits do? If there were many entrepreneurs with the same strategy, what would happen over time?arrow_forwardDiscuss whether or not the trade unions and the government can do anything to increase the earnings of unskilled workers.arrow_forward
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