Which of the following is an example of a compensating wage differential? O Popular movie stars like George Clooney command much higher salaries than other talented but lesser- known actors. ONurse anesthetists are paid less than anesthesiologists (who have medical degrees). In the market for lawyers, top graduates from the top programs earn starting salaries that are significantly higher than the starting salaries earned by lower-ranked graduates from the lower-ranked programs. Workers in a dynamite mine receive higher wages than if they worked in other jobs that require the same level of skills.

Which of the following is an example of a compensating wage differential? O Popular movie stars like George Clooney command much higher salaries than other talented but lesser- known actors. ONurse anesthetists are paid less than anesthesiologists (who have medical degrees). In the market for lawyers, top graduates from the top programs earn starting salaries that are significantly higher than the starting salaries earned by lower-ranked graduates from the lower-ranked programs. Workers in a dynamite mine receive higher wages than if they worked in other jobs that require the same level of skills.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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E1
MCQ 1 Consider a competitive labour market in which the current equilibrium wage is £10 per hour. If the government imposes a minimum wage of £8 per hour, in this market we would expect to observe: A a fall in the wage and an increase in the demand for labour a rise in the wage and a fall in the demand for labour C a rise in the wage, but the change in the demand for labour can't be detemined from the information provided D no change in the wage and no change in the demand for labour a fall in the wage, but the change in the demand for labour can't be determined from the information provided I do not want to answer this question. B
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