Estimates of the compensating wage differentials associated with particular job characteristics are valid only if
A. firms are willing to pay higher wages to more skilled workers.
B. nonwage characteristics of the job are allowed to vary by sector.
C. the firm provides nonpecuniary compensation for risks that workers encounter on the job.
D. the compensating wage differential is positive.
E. all other factors that influence worker's wages are held constant.
Answer: E
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Figure 4.5 illustrates a set of supply and demand curves for hamburgers. An increase in supply and a decrease in demand are represented by a movement from
A) point d to point a. B) point b to point d. C) point a to point c. D) point d to point b.
Personal consumption expenditures include all of the following EXCEPT spending on
A) consumer durable goods. B) consumer nondurable goods. C) consumer services. D) new housing.
How could return-chasing explain why many of Enron's employees lost most of their retirement savings when Enron went bankrupt?
What will be an ideal response?
The "A" in the neoclassical production function incorporates
a. new inventions. b. changes in efficiency. c. more productive capital. d. more efficient labor organization. e. all of the above.