Exam 8: Compensating Wage Differentials and Labor Markets

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A firm offers the optimal mix of wages and benefits.It is paying $5 an hour in wages and $3 in benefits.The minimum wage is then increased from $5.15 to $7 an hour.Assume all workers have the same utility curves (and have the usual shape).If the firm continues to spend $8 an hour on workers,then

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Assume that all workers prefer to work 40 hours a week at a given wage.If real estate jobs asks workers to rotate between working 20 hours a week and 60 hours a week,which of these workers is likely to work for the lowest relative average hourly pay in real estate?

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An offer curve is made up of

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When talking about compensating wage differentials,we relax our earlier assumption of

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If a worker does not have good information and thinks that risks are lower than they actually are,then OSHA regulations which increase safety standards in the workplace

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