--%>
Assignment Help - homework help

Wage Differentials by Adam Smith

Adam Smith would have had the greatest complexity in describing income differentials as depends on scarcity and productivity for the case wherein: (1) Holly lives into New York City and is paid more than Devin, who has a same job in Kansas. (2) Chad, a tight end for the Cincinnati Bengals, makes $3 million per year, while Bud, a high school football coach, makes $31,000 yearly. (3) Sean washes skyscraper windows and makes three times to the extent that Robin, a janitor in identical building. (4) Candy, who dates her boss, gets $20,000 in yearly bonuses, but Amanda, a more diligent receptionist than Candy, acquires only the minimum legal wage rate. (5) Brad averages $40,000 an hour for starring in Hollywood blockbusters, but Murray, that narrates Oscar-winning documentaries, averages only $28,000 yearly as an actor.

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

   Related Questions in Managerial Economics

  • Q : Explain the term business cycle in brief

    Explain the term business cycle in brief.

    		•
  • Q : Boom - Phases of business cycle Explain

    Explain about the term Boom in phases of business cycle.

    		•
  • Q : Pay the lowest wages in market

    Occupations along with the highest percentage of women workers tend to: (1) pay the highest wages. (2) need relatively more human capital and experience. (3) pay the lowest wages. (4) require very small human capital or experience.

  • Q : Investment in Human Capital An

    An investment in human capital is most obviously illustrated while: (1) Biff Biceps lifts weights before going to the beach to surf. (2) Cary Coffee drinks four cups of latte before going to work. (3) Pollyanna reads Harlequin Romance novels within he

    		•
  • Q : Explain about the signaling Signaling :

    Signaling: (w) attempts to finesse adverse selection. (x) involves behavior by agents to communicate special qualifications which will elicit the offer of a contract from a principal. (y) refers to potential employees obtaining skills, education or ex

    		•
  • Q : Define naive method and its techniques

    Define naive method and its techniques briefly.

    		•
  • Q : Illustrates the role of cost in pricing

    Illustrates the role of cost in pricing?

    		•
  • Q : Occurrence of Occupational Crowding An

    An illustration of occupational crowding occurs while: (1) Morgan, Blake and Jackie share one small office and a fax machine at an investment firm. (2) Juanita, Rosa, and Maria find work only as hotel maids since, as Hispanic women, they are stereotyp

    		•
  • Q : Part of the payment in economic rent

    Economic rent shows part of the payment for the utilization of: (w) landowners’ labor and capital to keep their land. (x) landowners’ buildings and equipment. (y) resources for that supplies are less than perfectly elastic. (z) any piece o

    		•
  • Q : Profit Maximization and the Demand for

    An increase within competitively-set wages tends to cause firms to adjust hence there are reductions into the: (1) amounts of labor most firms hire. (2) value of the marginal productivity of workers. (3) marginal profit from hiring labor. (4) technolo

    		•