Using the economic concepts that explain differences in wages, discuss the following points. Post your response to each of the three points separately.
1. Why does a chief executive earn more than a rocket scientist working for NASA?
2. Why does a teacher earn less than a firefighter?
3. Why does a union electrician earn less than a non-union electrician?
4. Why does a white male earn more than a white female with the same level of education?
5. Why does a movie actress like Angelina Jolie earn more than a movie actress from the 1940s?