Which of the following are determinants of differences in income?

Question

Quizplus · Accepted Answer

All three factors - age, marginal productivity, and discrimination - are determinants of differences in income. Age is a factor because individuals at different stages in their career may have different levels of experience, education, and skills, which can impact their productivity and earning potential. Marginal productivity refers to the amount of additional output produced by an individual worker, and those who are more productive are often able to earn more. Discrimination can also play a role in wage disparities, as some individuals may be paid less due to factors such as their gender, race, or ethnicity, despite having comparable levels of education and experience.

Which of the Following Are Determinants of Differences in Income