Download the App!
Get 24/7 study help with the Numerade app for iOS and Android! Enter your email for an invite.
Question
Answered step-by-step
A basic finding of labor economics is that workers who have more experience in the labor force are paid more than workers who have less experience (holding constant the amount of formal education). Why might this be so? Some studies have also found that experience at the same job (called $\textit{job tenure}$) has an extra positive influence on wages. Explain why this might occur.
Video Answer
Solved by verified expert
This problem has been solved!
Try Numerade free for 7 days
Like
Report
Official textbook answer
Video by Yi Chun Lin
Numerade Educator
This textbook answer is only visible when subscribed! Please subscribe to view the answer
No Related Courses
Chapter 19
Earnings and Discrimination
The Economics of Labor Markets
Topics for Further Study
The Real Economy in the Long Run
01:30
A basic finding of labor e…
01:33
Consider an economy with t…
01:45
At some colleges and unive…
01:28
Think about the backward-b…
06:23
Explain a situation using …
question three Basic fighting off lately comics is that workers who have more experiences in the labor force are paid more that workers who have less experience holding a disgusting amount of education than white might be. So so what reason is that the one with more experience they can guess. They require less training type because given the distribute, people have the same level education and one has work. One has words in McConnell's before, and the other one has not. So the one who knows how Teo make burgers, how to make French fries. We, from the point of view ofthe employees, employers. They don't have to train him right. He can just get on a job and work while the other one who doesn't have any experience, you have to get him to work and then spend time to teach him how to make the hamburgers and how tio start how to make a utter milkshakes or something. So it is more costly. Teo Hi Rose with less experience. That's why does, with experience, can earn more, more okay, And the second question is in that some studies have also found that experienced at the same job hasn't instruct positive influence on weight on wages because that s o this part we're talking about in job training. Because if you have been working in this particular job saying, making hamburgers in McDonald's, you know, you really know how to make a hamburger, so you make him burgers faster than those rookies in your in your college, So that is why they get paid more.
View More Answers From This Book
Find Another Textbook