Asked by
Skyler Soukup
on Dec 17, 2024
Verified
The fact that doctors are paid more than economics professors is an example of a compensating differential.
Compensating Differential
A difference in wages that arises to offset the nonmonetary characteristics of different jobs.
Economics Professors
Academics who specialize in the study of economics, often conducting research, teaching at universities, and publishing scholarly works.
- Grasp the concept of compensating differentials and how they affect wage differences.
Verified Answer
EH
Learning Objectives
- Grasp the concept of compensating differentials and how they affect wage differences.
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