Leroy has a cause: He loves cats. As an economist, he could earn $100,000 as a faculty member, but instead he decides to devote his time to the Humane Society as its chief economist. Knowing nothing else, what do you expect his salary with the Humane Society to be, and why?
A) He would receive higher pay at the Humane Society because of the difference in skill levels.
B) He would receive lower pay at the Humane Society because of signal theory.
C) He would receive lower pay at the Humane Society because of the compensating differential theory.
D) He would receive higher pay at the Humane Society because of signal theory.
E) He would receive the same pay as either a professor or as a chief economist at the Humane Society.
Correct Answer:
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