曼昆 经济学原理 19-收入与歧视.pptVIP

Earnings and Discrimination Chapter 19 Differences in Earnings in the U.S. Today The typical physician earns about $200,000 a year. The typical police officer earns about $50,000 a year. The typical farm worker earns about $20,000 a year. What causes earnings to vary so much? Wages are governed by labor supply and labor demand. Labor demand reflects the marginal productivity of labor. What causes earnings to vary so much? In equilibrium, each worker is paid the value of his or her marginal contribution to the economy’s production of goods and services. Some Determinants of Equilibrium Wages Co