Question

compensating differences in wages: group of answer choices compensate workers for differences in their human capital. are wage differences that compensate for differences in the desirability of jobs. describe the tendency for the wages of all occupations to adjust to the median level. do not exist if jobs have different nonmonetary characteristics.

Answer 1

It is correct to choose option (b). Compensation disparities that account for differences in job desirability are known as compensating wage differences.

What does it mean to compensate for salary disparities?

Compensation wage differentials are designed to compensate for nonwage employment characteristics, such as how "pleasant" or "unpleasant" a job is for employees. - In order to retain employees, a corporation will probably need to pay more if a job is unpleasant, and the opposite is also true. Salary differences resulting from non-financial factors in various employment situations are known as compensating differentials.

What significance do compensation differences have?

Wage disparities have significant economic and social implications because they directly affect how a nation allocates its economic resources, including its human capital, the growth of its national revenue, and the rate of economic progress. Encourage economic growth at the favored rate.

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