曼昆经济学原理英文版文案加习题答案19章.docVIP

mination WHAT’S NEW IN THE SEVENTH EDITION: There is a new In the News feature on Higher Education as an Investment and values and tables have been updated. LEARNING OBJECTIVES: By the end of this chapter, students should understand: ? how wages compensate for differences in job characteristics. ? the human-capital and signaling theories of education. ? why a few superstars earn tremendous incomes in some occupations. ? why wages rise above the level that balances supply and demand. ? why it is difficult to measure the impact of discrimination on wages. ? when market forces can and cannot provide a natural remedy for discrimination. LEARNING OBJECTIVES: Chapter 19 is the second chapter in a three-chapter sequence that addresses the economics of labor markets. Chapter 18 developed the markets for the factors of production. Chapter 19 goes beyond the supply-and-demand models developed in Chapter 18 to help explain the wide variation in wages we find in the economy. Chapter 20 addresses the distribution of income and the role the government can play in altering the distribution of income. The purpose of Chapter 19 is to extend the basic neoclassical theory of the labor market that was developed in Chapter 18. Neoclassical theory argues that wages depend on the supply and demand for labor and that labor demand depends on the value of the marginal productivity of labor. To address the wide variation in the wages that occurs in the real world, it is important to examine more precisely what determines the supply and demand for various types of labor. KEY POINTS: ? Workers earn different wages for many reasons. To some extent, wage differentials compensate workers for job attributes. Other things equal, workers in hard, unpleasant jobs are paid more than workers in easy, pleasant jobs. ? Workers with more human capital get paid more than workers with less human capital. The return to accumulating human capital is high and has in