What is fair pay? W = P * MP. What is fair pay? W = P * MP.

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Presentation transcript:

What is fair pay? W = P * MP

What is fair pay? W = P * MP

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Growth of Usual Weekly Wages for Physicians, Nurses, Manufacturing Workers, and Private Sector Workers, Percent Growth in Real Wages = 100*{(W t / P t ) / (W t-1 /P t-1 )} Occupation Physicians Registered Nurses Manufacturing Private Sector Source: U.S. Bureau of Labor Statistics. Employment and Earnings. Various issues.