TAILIEUCHUNG - Ebook Principles of economics (9/E): Part 2
(BQ) Part 2 book “Principles of economics” has contents: The economics of labor markets, the data of macroeconomics, the real economy in the long run, money and prices in the long run, the macroeconomics of open economies, short-run economic fluctuations, and other contents. | PART VI The Economics of Labor Markets Copyright 2018 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole e or in part. WCN 02-200-203 Copy py yrrigh riiig t 20 rig 018 8 Ce en eng nga nga gage e Learn ear arn rrn ning. ing ng ng. g Al Alll Rig All ig ghts ht Re Res ese e served ved v ed d. Ma May no not be be c cop op pied, pi ied, e s sc c ca ann nned nne ned, or dupl ne dupllica dup ica ated, tted ed ed, in ed, in w who whol ho h e orr in in par part art ar rt. WC rt CN N 02--20 20 00 0-20 0--203 CHAPTER The Markets for the Factors of Production 18 hen you finish school, your income will be determined largely by what kind of job you take. If you become a computer programmer, you will earn more than if you become a gas station attendant. This fact is not surprising, but it is not obvious why it is true. No law requires that computer programmers be paid more than gas station attendants. No ethical principle says that programmers are more deserving. What then determines which job will pay you the higher wage? Your income, of course, is a small piece of a larger economic picture. In 2015, the total income of all . residents (a statistic called national income) was about $16 trillion. People earned this income in various ways. Workers earned about two-thirds of it in the form of wages and fringe benefits. The rest went to landowners and to the owners of W Copyrig ight 20 018 18 Cenga en nga ga g ag ge e Lea earn arrn ar arn niin ing. ing ng n g All Rights hts ts s Re Rese R Res es ese e se s erved. rved rve rrv ved ed. M Ma ay no ay n ot b be ec co cop o op pie pi ied, iied ed, ed e d d,, s sc sca ca c an nn nne nned ned ne n ed e d, o orr dup du du up plica lliica lic ica ic cated ted te ted, e ed, d d,, in in whol who wh w hol ho h olle or o or in in p par pa part art a . WCN ar CN .
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