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miss 1 - meme-cure UU‘I J p1 mnmmamre 55.5w[DDT i3...

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Unformatted text preview: meme-cure: UU‘I' J. p1: mnmmamre: 55.5w [DDT i3 HE] :III'ILJ EDI'HFIE‘EE b3 Read the news clip and then answer the following 1Eon my be Paid More {or Less) than You Think questions. It‘s so hard to put a price on happiness, isn‘t it? But ifyou‘ve The reservation wage is most likely for more ever had to choose between a job you like and a desirable jobs. better—paying one that you like less= you probably wished some economist wouldgetonthe stickamitellyou how The greater the desirability of a job the the - of labor for that job and the the wage rate. Q) Nice Work! {”1- higher; greater; lflWEI The reservation wage, whieh is the lowest wage an individual must earn to supply __ _ _ any labor, is most likely lower for more desirable jobs. If someone truly enjoys '1" 8' lower, greater, lower their work. then they will be willing to do the job at a lower wage rate. fl:- C. higher; smaller; higher . . . . Ami the supply of labor is greater for more desirable jobs, which means that the {:3 D. lower; smaller; higher supply of labor curve for desirable jobs is further to the right than the supply of labor curve for less desirable jobs. Consequently, the equilibrimn wage rate for desirable jobs is lower than the equilibrium wage rate for less desirable jobs. Click to select your Elr'lswerr then click: Cheel-c Answer. ...
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