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Microeconomics , Fifth Edition
William Boyes, Arizona State University
Michael Melvin, Arizona State University
Glossary
Chapter 16: The Labor Market



backward-bending labor supply curve  a labor supply curve indicating that a person is willing and able to work more hours as the wage rate increases until, at some sufficiently high wage rate, the person chooses to work fewer hours
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
compensating wage differentials  wage differences that make up for the higher risk or poorer working conditions of one job over another
crowding  forcing a group into certain kinds of occupations
discrimination  prejudice that occurs when factors unrelated to marginal productivity affect the wages or jobs that are obtained
disparate impact  an impact that differs according to race, sex, color, religion, or national origin, regardless of the motivation
disparate treatment  different treatment of individuals because of their race, sex, color, religion, or national origin
human capital  skills, training, and personal health acquired through education and on-the-job training
labor force participation  entering the work force
occupational segregation  the separation of jobs by sex
statistical discrimination  discrimination that results when an indicator of group performance is incorrectly applied to an individual member of the group
superstar effect  the situation where people with small differences in abilities or productivity receive vastly different levels of compensation


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