Question

In: Economics

Q1 What are the benefits and costs of job search? Why don’t job seekers endlessly search...

Q1 What are the benefits and costs of job search? Why don’t job seekers endlessly search for a higher wage offer?

Q2 What is meant by term acceptance wage? How does a job seeker determine his or her acceptance wage?

Solutions

Expert Solution

ANS : 1 if most important In a labor market with long-term wage contracts and moral hazard, any such policy reduces employees’ opportunity costs of staying on a job.as well as Both benefits as well as cost are involved in acquiring information about the jobs available, because their remuneration, their working culture, growth opportunities etc

If Many job hunters mistakenly believe that when they’re hired for a job, because they must accept what’s being offered to them in terms of salary and benefits. However, this isn’t necessarily the case. In fact, in many cases, as well as workers can successfully negotiate better terms for a job offer so difference in working conditions of firms, various opportunities for growth etc.


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