Gary Becker Concludes That the Cost of Wage Differentials and Market

question 364

True/False

Gary Becker concludes that the cost of wage differentials and market competition will drive discrimination down to zero in the long run.

---

Definitions:

Job Specifications

A detailed description of the qualifications, skills, experience, and attributes required for a particular job role.

Job Evaluation Systems

Methodologies used by organizations to assess the relative worth of jobs within the company, to ensure fair compensation.

Job Analysis

A systematic examination of a job to identify its component tasks, responsibilities, and the necessary skills, knowledge, and abilities for performance.

Red-Circling

A practice where an employee's pay is frozen or maintained at a high rate, despite the position's salary range being reduced or the employee moving to a lower-paid position.