The difference between the earnings of construction workers who work on bridges and skyscrapers and those who work on highways is most likely due to
a. differences in unionization rates.
b. a compensating differential.
c. differences in education requirements.
d. apprenticeship requirements.
b. a compensating differential.
You might also like to view...
A manager invests $400,00 . in a technology to reduce overall costs of production. The company managed to reduce their cost per unit from $2 to $1.85 . This affects
a. Economic profits b. Accounting profits c. Both a and b d. None of the above
A firm's demand for labor is known as a "derived demand" because:
a. the firm gains utility from hiring more labor. b. the amount of labor hired depends upon how much output the firm can sell. c. the wage rate paid to workers is derived from the market for labor. d. it's derived from the demand for capital.
The incidence of a tax is
a. always determined by the demand side of the market b. always determined by the supply side of the market. c. always determined by the interaction of the demand and supply side of the market.. d. always determined by which side of the market the government imposes the tax on.
We refer to situations in which individuals need to act collectively to reach solutions that will make everyone better off as:
A. collective-action problems. B. moral hazard problems. C. free-rider problems. D. public-mind problems.