XECO 212 DQ 1 WK 2

XECO 212 DQ 1 WK 2 - When it comes to employee wages the...

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When it comes to employee wages, the labor market equilibrium can explain how people get paid what they do in their industry. The more complicated and extensive a profession is, the higher paying that job is going to be. It takes much more training, time, and expense to become a doctor than it does a food server. Due to the increased training and education required to become a doctor, they make more money. However, a consistent pay rate can be seen throughout the same profession. This means that an Emergency Room doctor at a hospital in Tampa, Florida makes a similar salary as an Emergency Room doctor in Miami, Florida. There are certain factors that can affect the wage rate such as available employee pools, education, and location. If there is a high demand for internal medicine specialists in Idaho due to a small pool of qualified candidates, a specialist make get hired with a higher wage than one in another state where the candidate pool is larger. This is due to the fact Idaho hospitals have to
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