Briefly and concisely define the following terms:
a. statistical discrimination
b. compensating wage differential
c. affirmative action
What will be an ideal response?
a. Statistical discrimination is said to occur when the productivity of a particular worker is estimated to be low just because that worker belongs to a particular group. It is not necessarily caused by prejudice; it can exist when there is no prejudice. However, it can still be a source of inefficiency.b. A compensating wage differential is a financial incentive for jobs that are more difficult, dangerous, or unpleasant than others.c. Affirmative action refers to legislation requirement that firms and other organizations with small representations of minorities or women in their workforces are required to end discriminatory practices and document the fact that they are making efforts to locate members of minority groups and females and then to hire them if they are qualified.
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