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12 Cards in this Set
- Front
- Back
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backward-bending labor supply curve
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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
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labor force participation
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entering the work force
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compensating wage differentials
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wage differences that make up the higher risk or poorer working conditions of one job over another
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human captial
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skills and training acquired through education and on-the-job training
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discrimination
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prejudice that occurs when factors unrelated to marginal revenue product affect the wages or jobs that are obtained
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statistical discrimination
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discrimination that occurs when an indicator of a group performance is incorrectly applied to an individual member of the group
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crowding
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forcing a group into certain kinds of occupations
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occupational segregation
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the seperation of occupations by sex
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superstar effect
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the situation in which people with small differences in abilities or productivity receive vastly different levels of compensation
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disparate treatment
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different treatment of individuals because of their race, sex, color, religion, or national origin
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disparate impact
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an impact the differs relating to race, sex, color, or national origin, regardless of motivation.
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comparable worth
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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
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