Ch. 12

Question 1

compensating differential

Answer 1

The differences in wages require to offset the desirable or undesirable aspects of a job

Question 2

discrimination

Answer 2

Treating people differently based on characteristics such as their gender, race ethnicity, sexual orientation, religion, disability, social class, or other factors

Question 3

efficiency wage

Answer 3

A higher wage paid to encourage greater worker productivity

Question 4

extrinsic motivation

Answer 4

The desire to do something for its external rewards such as higher pay

Question 5

general skills

Answer 5

skills useful to many employers

Question 6

human capital

Answer 6

The accumulated knowledge and skills that make a worker more productive

Question 7

implicit bias

Answer 7

Judgements shaped by the unconscious attribution of particular qualities to specific groups

Question 8

intrinsic motivation

Answer 8

The desire to do something for the enjoyment of the activity itself

Question 9

job-specific skills

Answer 9

Skills that are only useful in a job with one particular employer

Question 10

monopsony power

Answer 10

A business using its bargaining power as a major buyer of labor to pay lower prices, including lower wages

Question 11

pay-for - performance

Answer 11

Linking the income your workers earn to measures of their performance. Examples include commissions, piece rates, bonuses, or promotions

Question 12

prejudice

Answer 12

A preconceived bias against a group that’s not based on reason or experience

Question 13

signal

Answer 13

An action taken to credibly convey private information, or information that is hard for for someone else to verify

Question 14

statistical discrimination

Answer 14

Using observations about the average characteristics of a group to make inferences about an individual