Chapter+19-+Earnings+and+Discrimination

Earnings and Discrimination


 * Glossary:**
 * **compensating differential** || a difference in wages that arises to offset the nonmonetary characteristics of different jobs ||
 * **discrimination** || the offering of different opportunities to similar individuals who differ only by race, ethnic group, sex, age, or other personal characteristics ||
 * **efficiency wages** || above-equilibrium wages paid by firms to increase worker productivity ||
 * **human capital** || the accumulation of investments in people, such as education and on-the-job training ||
 * **strike** || the organized withdrawal of labor from a firm by a union ||
 * **union** || a worker association that bargains with employers over wages and working conditions ||