Why the general level of wages is higher in the us

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1. Explain why the general level of wages is higher in the United States and other industrially advanced countries. What is the single most important single factor underlying the long-run increase in average real-wage rates in the United States?

2. "Many of the lowest-paid people in society-for example, short-order cooks-also have relatively poor working conditions. Hence, the notion of compensating wage differentials is disproved." Do you agree? Explain.

3. Which industries and occupations have the highest rates of unionization? Which the lowest? Speculate on the reasons for such large differences.

Reference no: EM13234694

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