Homework Question on Wage Difference
- Your responses should be about 500 words each and as applicable, include graphs
- Consider the question, Why do different workers receive different wages? Offer three separate examples of different workers and discuss why each might be expected to receive a different wage – each should showcase a different form of reasoning.
- Discuss ways in which the three inputs to human capital might have an effect on productivity, changes in a nation’s GDP, and the relative level of a nation’s PPF. Be sure to include comments in respect to the race between education and technology.
- We’ve talked about social “revolution” in the US in respect to structural changes since the late 1970’s – offer an example of how the conflict motivated certain changes in support of owners of the means of production and an example of change in support of those without such ownership. Be sure to comment on which group has enjoyed the greatest benefits as a result of the changes.
Homework Answer on Wage Difference
The wage difference of workers in the same job is an issue that many workers may need to understand. However, there are reasons, usually for paying a certain worker more than others or, paying a less than other colleagues. For instance level of education is among the reasons why some workers are paid less than others. Every worker wants to earn more and they will take an educational course to perfect on certain skills for them to be considered controllers of their relevant departments.
Education is usually an investment, where one is able to learn and discover more about their skills and because of this, the level of pa has to increase. For example a lecturer with a PHD will earn more than ordinary teachers.Another reason that brings the difference in paying workers, is the compensation amount which is usually meant to persuade a person to undertake a job due to the risks involved with the job.
For instance, the amount of compensation that a construction worker gets, is usually more than that of a cleaner, since a construction worker can get injured when dealing with construction machines, than a cleaner who is less likely to get injured.However, some organization usually offers a number of benefits to its staff and therefore they are likely to earn less than other employees with similar jobs.