A recent study of the determinants of wages for clerical staff at a state university found that years of schooling, years of experience, age and job characteristics only explained about one-half of the difference in wages. Describe other factors that may be important in explaining wages differences for clerical staff
Other factors may include job tenure, job responsibilities, ability, effort, chance, or some form of discrimination.
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The poor are those who fall too far behind the average income. This refers to the ____ definition of poverty
a. marginal b. absolute c. relative d. threshold
Short-run fluctuation in economic activity
What will be an ideal response?
The "elasticity argument" criticizing traditional economic analyses of the minimum wage implies that
A. the short-run marginal productivity of workers is independent of the number of workers employed. B. any increase in employment greatly reduces the marginal productivity of employed workers. C. any increase in employment greatly increases the marginal productivity of employed workers. D. patriotic employers should want to pay their American employees more than their foreign employees.
The ongoing search by savers for high returns leads the bond and stock markets to direct funds to the uses that appear:
A. to have the least risk. B. least likely to be productive. C. to have no risk. D. most likely to be productive.