Times more productive than a minimum wage worker. how many, Ask an Expert

Economics

In 2010, many unskilled workers in the United States earned the Federal minimum wage of $7.25 per hour. By contrast, average earnings in 2010 were about $18.00 per hour, and certain highly skilled professionals, such as doctors and lawyers, earned $160.00 or more per hour.

If we assume that wage differences are caused solely by differences in productivity, how many times more productive was the average worker than a worker being paid the Federal minimum wage?

Instructions: Round your answer to two decimal places.

Times more productive than a minimum wage worker

How many times more productive was a $160-per-hour lawyer compared to a worker earning minimum wage?

Instructions: Round your answer to two decimal places.

times more productive than a minimum wage worker

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9446592

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