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12 Cards in this Set

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  • Back
backward-bending labor supply curve
a labor supply curve indicating that a person is willing and able to work more hours as the wage increases until, at some sufficiently high wage rate, the person chooses to work fewer hours
labor force participation
entering the work force
compensating wage differentials
wage differences that make up the higher risk or poorer working conditions of one job over another
human captial
skills and training acquired through education and on-the-job training
discrimination
prejudice that occurs when factors unrelated to marginal revenue product affect the wages or jobs that are obtained
statistical discrimination
discrimination that occurs when an indicator of a group performance is incorrectly applied to an individual member of the group
crowding
forcing a group into certain kinds of occupations
occupational segregation
the seperation of occupations by sex
superstar effect
the situation in which people with small differences in abilities or productivity receive vastly different levels of compensation
disparate treatment
different treatment of individuals because of their race, sex, color, religion, or national origin
disparate impact
an impact the differs relating to race, sex, color, or national origin, regardless of motivation.
comparable worth
the idea that pay ought to be determined by job characteristics rather than by supply and demand and that jobs with comparable requirements should receive comparable wages