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Question
Using a compensating differential wage theory, some individuals earn more than others because workers
a. who earn more are more productive.
b. need to earn more to be willing to accept dangerous working conditions.
c. need to earn more to be willing to accept a safe indoor job.
d. who are more educated and better trained are able to earn more than the equilibrium wage.
e. who earn more tend to be concentrated in a single occupation.
Answer
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Related questions
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Price gouging laws will usually result in ________ the product in the distressed market.
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The economic entity most likely to engage in price gouging is
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Q:
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What will an individual do differently as a buyer in the black market in the long run?
a. He or she will substitute away from the product.
b. He or she will substitute toward the product.
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d. When a binding price ceiling exists, he or she will be willing to pay a lower price.
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Q:
What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
c. A shortage will continue to exist and will grow larger over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
a. Prices in the legal market in the community with a binding price ceiling will rise.
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Q:
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Q:
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