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The fact that some people will work hard to earn a lot of money while others will be content with much less income indicates that
A) worker preferences are an important source of earning differentials.
B) economics ranks one set of worker preferences as more desirable than another.
C) some people can be paid less for doing hard work while others have to be paid a premium for doing a similar task.
D) skill levels of laborers are a minor consideration in wage rate determination.
Worker Preferences
The desires or priorities of employees regarding their job conditions, salary, environment, and other job-related factors.
Earning Differentials
The differences in wages or earnings among workers due to various factors such as education, experience, and skills.
Skill Levels
Refers to the range or degree of competencies and expertise possessed by an individual or required for a job.
- Comprehend the impact of employee preferences and bias on wage disparities.
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Learning Objectives
- Comprehend the impact of employee preferences and bias on wage disparities.
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