Why wage rates differ
Problem
Why Wage Rates Differ. It includes non-wage job characteristics, human capital, and efficiency wages. Share with the class an example you know of one of these, or of some other situation, where wages differ.
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Evaluate your results and use specific reasons and examples to support your answer.
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In percentage, what is the short-run impact on the price level? In percentage, what is the long-run impact on output?
Why Wage Rates Differ. It includes non-wage job characteristics, human capital, and efficiency wages. Share with the class an example you know of one of these.
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