The Tournament Pay Explanation Is Useful in an Attempt to Explain

question 52

Multiple Choice

The tournament pay explanation is useful in an attempt to explain why

• A) some corporate executives earn amounts higher than their marginal revenue product.
• B) very few people actually earn the minimum wage.
• C) political entrepreneurs can generate campaign contributions from businesses outside of their districts.
• D) people with only a high school education earn less than those with college degrees.

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Definitions:

Knowledge

Acquainted with or understanding of facts, information, descriptions, or skills acquired through experience or education.

Visual

Relating to seeing or sight, involving the use of vision.

Reasoning

The process of thinking about something in a logical way in order to form a conclusion or judgment.

Direct Observation

A research method where information is collected by witnessing and recording behaviors as they occur in their natural setting.