According to the Bureau of Labor Statistics,in the Federal Government,the

question 18

Essay

According to the Bureau of Labor Statistics,in the Federal Government,the starting salary for economists having a bachelor's degree was $35,752 in 2007.Assume that our economist will get this government job that offers a 3 percent raise annually.After 5 years of working,she quits and never works again.How much will this worker have earned over her brief working career? How much will she have paid in Social Security and Medicare taxes if the tax rate is 7.45 percent?

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Definitions:

Fairness

The impartial and just treatment of individuals without favoritism or discrimination.

Perceived Inequity

A feeling of unfairness experienced when an individual compares their own work reward ratio to that of others.

Under-Rewarded

Feeling or being inadequately compensated or acknowledged for one’s efforts or contributions.

Over-Rewarded

A situation where an individual receives more recognition or compensation than what is perceived to be fair or deserved.