wage differentials Flashcards
1
Q
what are the economic factors of labour
A
mrp- if someone has higher mrp they get payed more
elasticity- if demand is inelastic due to high skill set wages are high
these are wage differentials
2
Q
wage discrimination
A
AGE RACE GENDER OR DISABILITY
3
Q
NMW and discrimination
A
legal wage discrimination
different national minimum wage rates
this allows young people to gain experince
