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12 marksWage Differentials

CAPE Economics Unit 1 · 2017 · Paper 2 · Question 3(d)

According to the IDB, male earnings exceed female wages by 14-27% in Barbados and 8-17% in Jamaica.

Discuss THREE factors that could account for this disparity in wages between males and females.

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Other parts of this question

  1. 3(a)(i)Define the term 'marginal revenue product of labour'.[2 marks]
  2. 3(a)(ii)Define the term 'income inequality'.[2 marks]
  3. 3(b)Prove that the labour market profit maximizing condition is MRP_L = MC_L.[5 marks]
  4. 3(c)Draw a diagram illustrating how the wage rate is determined in a perfectly competitive market.[4 marks]

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