Wage Differentials-Adam Smiths theory

The Adam Smith’s theory of wage differentials is least reliable with a case in which a: (1) Chef in the five-star restaurant earns a higher wage than cook in the fast food restaurant. (2) Security guard for U.S. firm in Baghdad is paid more than the security guard in Denver. (3) Bulldozer operator is salaried more per hour in winter in Alaska than in summer. (4) Gas station in a small town pays clerks higher salaries than are salaried by an almost similar gas station across the street. (5) Window washer in the high-rise building is salaried more than any janitor in similar building.

What is the right answer?

   Related Questions in Microeconomics

  • Q : Charting of past prices Can the

    Can the charting of past prices be used to predict future prices?

  • Q : Negative income tax programs Negative

    Negative income tax programs attack poverty through: (w) levying heavy taxes on the poor to encourage them to work more. (x) providing transfers in kind to low income households. (y) providing cash subsidies to guarantee a minimum income to low income

  • Q : Economic what is the Production

    what is the Production possibility frontier

  • Q : Standard economic reasoning for price

    In the given figure as in below, demand curve D0D0: (w) has price elasticity of infinity. (x) is possibly for a luxury good. (y) is unitarily price elastic. (z) seems contrary to standard economic reasoning.

    Q : Define equilibrium price Equilibrium

    Equilibrium price: The Equilibrium price refers to a price at which the market demand and market supply are equivalent.

  • Q : Monopsony Power and Immobility of Labor

    Immobility of the labor is significant economically as: (1) Most of the people like to move, however cannot. (2) People in high salary occupations won't be completely compensated for the costs and difficulties related with their occupations. (3) It we

  • Q : Monopolies in the short run Monopolies

    Monopolies tend to shut down in the short run when: (1) price is less than the minimum of average total costs [ATC]. (2) price cannot cover all overhead costs. (3) potential revenue cannot cover total variable costs. (4) total costs exceed total reven

  • Q : Problem on Multiple regression analysis

    Find two journal articles that have undertaken multiple regression analysis and compare the results. Specify the reference for the two papers.Requirements:

    Q : Problem regarding Utilitarianism Can

    Can someone help me in finding out the right answer from the given options. However the idea that people seek happiness and try to evade pain dates back to Epicurus and other ancient Greeks, the individual generally acknowledged as the founder of the ‘modern&rsq

  • Q : Horizontal summation of individual

    The market demand curves for most of the goods are as: (i) Cross-multiplied products of the individual demand curves. (ii) Insignificant for most of the analytical aims. (iii) The horizontal summation of the individual demand curves. (iv) Irrelevant for business decis

©TutorsGlobe All rights reserved 2022-2023.