The figure given below shows the income-leisure trade off of an individual.Figure 16.5
AB and AC: Income constraints of the individual
I 1 , I 2 , and I 3 curves show the income leisure choices of the individual.
-Which of the following determines comparable worth of a particular job?

Question

The figure given below shows the income-leisure trade off of an individual.Figure 16.5
  AB and AC: Income constraints of the individual
I 1 , I 2 , and I 3 curves show the income leisure choices of the individual.
-Which of the following determines comparable worth of a particular job?

Quizplus · Accepted Answer

The level of formal education required for a job is a key determinant of its comparable worth. Comparable worth refers to the concept that jobs with similar skills, responsibilities, and/or education requirements should receive equal pay, regardless of gender, race, or other personal characteristics. Therefore, the level of formal education required for a job helps to determine the skill level and expertise needed for the position, which ultimately affects its comparable worth. Cultural background, gender, race, and national origin are not relevant factors for determining comparable worth.

The Figure Given Below Shows the Income-Leisure Trade Off of an Individual.Figure