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College students sometimes work as summer interns for private firms or the government. Many of these positions pay little or nothing.a. What is the opportunity cost of taking such a job?b. Explain why students are willing to take these jobs.c. If you were to compare the earnings later in life of workers who had worked as interns and those who had taken summer jobs that paid more, what would you expect to find?
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Chapter 19
Earnings and Discrimination
The Economics of Labor Markets
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The Real Economy in the Long Run
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question one college Syrian, sometimes working summering turns for private firms or the government, and many of these positions pay little or nothing unquestioned. A. Is asking what isthe the opportunity cost off taking such a job. So if students choose to take um, summer intern job that paid little or nothing, their cost is first of all their leisure time. Because the I decided to work, they don't have time with their friends and with their family and another opportunity cost for them and iss the the wage they might earn if they go Teo utter high pay. Hi paid companies. So I'm missing something here. Um, so 11 think they're losing. Is there time? And the other thing is probably a higher the higher wage from other companies that pay bettered higher wage higher. Okay and in question, be explain why students are willing to take the East jobs. So one of the reasons that students are really to take these the private firms or government low paid job is that they probably want to work in thes institutions in the future, so it will be better for them to have some related experience of working in thes brains or these group that they're interested in so they can put this thing experiencing there are safety or than they can share with our people. That why I didn't want to get this job in the future to make it more convincing. So see, if you were to compare to any earnings and later in life of workers who had worked as anchors in and those who have taken summer jobs that could. So summer jobs that pay more is something I mentioned in Question A. Those job that a higher wage for this summer intern intern things. So what would you expect to find? Well, actually, the answer to this question is Nostra, too, because I always supposed those who work in government or prep it firms up in turn, jobs. They ended up finding a job in DC institutions. They would probably have a stable job and a stable earning, but it is not easy to compare them with those who find a higher paid some jobs. Probably those jobs also pay better in the future, and they get a chance to getting the company. Or probably those jobs are only high paid in the summer and in long run, it is not very, very stable or save job. So it really depends on what with types of jobs we're talking about here. So I would say on the answer to this question is not certain.
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