Exam 19: Earnings and Discrimination

Professional underwater divers are known to have high wages and work an average of only 20 hours per week.The high wages are partially explained by the fact that the job is likely

Some discriminatory hiring practices can be expected,even if markets are competitive,as a result of

In the signaling theory of education,

Explain how compensating differentials could contribute to differences between the average wages of men and women.

A difference in wages that arises to offset the nonmonetary characteristics of different jobs is known as

The idea that minimum-wage laws lead to wages that exceed equilibrium levels

One of the problems with calculating the true amount of discrimination that takes place in the market for labor is

Which of the following is the most important contributor to human capital?

When comparing average wages for black and white workers in the United States,wages paid to black workers have been about 20 percent less than those paid to white workers.

Which term do economists use to refer to a difference in wages that arises from nonmonetary characteristics of different jobs?

Evidence of differences in average wages of women compared to men

A union's major source of power is its

Human capital is

Which of the following scenarios would serve to decrease the demand for unskilled labor in our country?

The superstar phenomenon applies to

In 1913,the Ford Motor Company decided to pay its employees $5 a day.This wage was significantly higher than what any other organization offered.Henry Ford believed that this wage would make his employees happier,increase their productivity,and lower employee turnover.Economists would say that Mr.Ford offered his employees

Which of the following statements is not correct?

Based on the widening income gap between "personal-service" workers and "symbolic analysts,"

In what way do competitive markets have a "natural remedy" for discriminatory hiring practices?

Superstars earn high incomes due to their ability to satisfy the demands of millions of people at once.