Economists Who Study Labor Markets Have Discovered That

Economists who study labor markets have discovered that

A) only about 5 percent of wage differences are related to chance.
B) ability is not difficult to measure but is largely insignificant in explaining wage differences.
C) work effort is difficult to measure but is not likely to contribute much to an explanation of wage differences.
D) ability, effort, and chance are likely to be significant contributors to wage differences.

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