2. Alternative explanations of wage disparities Suppose that a professor of labor economics finds that one of their research subjects has earned significantly higher wages throughout their lifetime than would be predicted by standard measured variables. The economist also notes that each of the subject's job roles was linked to social connections established at their family's yacht club. Which item from the following list most likely explains this individual's high earnings? Chance Efficiency wages Effort Compensating differentials Suppose that Hilary receives higher pay from her company than her colleagues, despite the fact that they perform basically the same type of role. If Hillary's productivity is about 37 percent higher than that of her second-best colleague, which of the concepts from the following list can explain this wage disparity? Check all that apply. Natural ability Compensating differentials Human capital Discrimination The superstar phenomenon.
2. Alternative explanations of wage disparities Suppose that a professor of labor economics finds that one of their research subjects has earned significantly higher wages throughout their lifetime than would be predicted by standard measured variables. The economist also notes that each of the subject's job roles was linked to social connections established at their family's yacht club. Which item from the following list most likely explains this individual's high earnings? Chance Efficiency wages Effort Compensating differentials Suppose that Hilary receives higher pay from her company than her colleagues, despite the fact that they perform basically the same type of role. If Hillary's productivity is about 37 percent higher than that of her second-best colleague, which of the concepts from the following list can explain this wage disparity? Check all that apply. Natural ability Compensating differentials Human capital Discrimination The superstar phenomenon.
Chapter11: Profit Maximization
Section: Chapter Questions
Problem 11.8P
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![2. Alternative explanations of wage disparities
Suppose that a professor of labor economics finds that one of their research subjects has earned significantly higher wages throughout their lifetime
than would be predicted by standard measured variables. The economist also notes that each of the subject's job roles was linked to social
connections established at their family's yacht club.
Which item from the following list most likely explains this individual's high earnings?
Chance
Efficiency wages
Effort
Compensating differentials
Suppose that Hilary receives higher pay from her company than her colleagues, despite the fact that they perform basically the same type of role. If
Hilary's productivity is about 37 percent higher than that of her second-best colleague, which of the concepts from the following list can explain this
wage disparity? Check all that apply.
Natural ability
Compensating differentials
Human capital
Discrimination
The superstar phenomenon](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a42d150-fd5f-4cc4-9bfb-b7cea693cea1%2F25a438a8-b563-49ec-b1fc-9778ae9d64df%2F2bm46ar_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. Alternative explanations of wage disparities
Suppose that a professor of labor economics finds that one of their research subjects has earned significantly higher wages throughout their lifetime
than would be predicted by standard measured variables. The economist also notes that each of the subject's job roles was linked to social
connections established at their family's yacht club.
Which item from the following list most likely explains this individual's high earnings?
Chance
Efficiency wages
Effort
Compensating differentials
Suppose that Hilary receives higher pay from her company than her colleagues, despite the fact that they perform basically the same type of role. If
Hilary's productivity is about 37 percent higher than that of her second-best colleague, which of the concepts from the following list can explain this
wage disparity? Check all that apply.
Natural ability
Compensating differentials
Human capital
Discrimination
The superstar phenomenon
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