In general, different jobs pay different wages. One overarching reason is that different jobs have different characteristics, with wages serving to compensate for those different characteristics. Consider two virtually identical individuals, employed in the same occupation and working in the same region. One of the individuals works in Industry A, while the other works in Industry B. Assume that the individual working in Industry A earns a higher wage than the individual working in Industry B.Describe three differences between Industries A and B that could each help explain the different wages paid to the two workers.[Note: There are multiple correct ways to answer this question. Use your knowledge of inter-industry wage differences to develop your answer.]
In general, different jobs pay different wages. One overarching reason is that different jobs have different characteristics, with wages serving to compensate for those different characteristics.
Consider two virtually identical individuals, employed in the same occupation and working in the same region. One of the individuals works in Industry A, while the other works in Industry B. Assume that the individual working in Industry A earns a higher wage than the individual working in Industry B.Describe three differences between Industries A and B that could each help explain the different wages paid to the two workers.[Note: There are multiple correct ways to answer this question. Use your knowledge of inter-industry wage differences to develop your answer.]
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
