Chapter
29
Labor
Markets
and
Wage
Rates
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
29­1
Chapter
Objectives
The
supply
of
labor
The
demand
for
labor
High
wage
rates
and
economic
rent
Real
wages
and
productivity
The
minimum
wage
dispute
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
29­2
Income
Disparity
Why
do
some
individuals
make
millions
and
millions
of
dollars
a
year
while
the
typical
American
wage
earner
was
paid
between
$25,000
and
$35,000
There
are
several
reasons
but
the
bottom
line
is
supply
and
demand
Copyright
2002 by The McGraw­Hill Companies, Inc.
All rights reserved.
29­3