Chapter 19 - Earnings and Discrimination

Signals of abilities

________ can often be seen in resumes, where workers experience and education are revealed.

market power of labor

The ________ unions, when left unsatisfied, can negatively affect a job.

Bonuses

________ are usually issued to these types of workers based on their performances.

Equilibrium

________: each worker is paid relative to how much they contribute to creating the goods and services.

Human capital

________: accumulation of investments in people.

Wages

________ are determined by marginal contribution to the work employees partake in.

minimum wage

A(n) ________ mostly affects regulations of low- effort jobs.

Statistical discrimination

________: employers do not have pinpoint accuracy on employees.

non monetary factors

Compensating differential: wage differences that are caused by ________ and characteristics Human Capital.

Labor Market Discrimination

Measuring ________ (all statistics found in the USA)

Customer preferences

________ and government policies affect wages.

marginal product value

The ________ depends on the type of employee.

Capital

________: an economys stock of equipment and structures.

factors of production

A product that has been produced with the ________.

theory of efficiency wage

The ________ increases worker morale and productivity.