Asked by
Karena Tinsley
on Oct 26, 2024
Verified
At Hamill Manufacturing of Pennsylvania,highly skilled senior machinists are paid $70,000,excluding benefits,but the average skilled machinist generates approximately $137,000 in value added.This is due partially to the fact that the wage rate includes other costs,such as employee benefits,that have to be added to the $70,000 salary.
Employee Benefits
Non-wage compensation provided to employees in addition to their normal wages or salaries, such as health insurance, pensions, and paid vacations.
Wage Rate
The amount of money paid to an employee per unit of time, usually expressed per hour or per year.
- Analyze the consequences of decreasing returns on income distribution among employees.
Verified Answer
WJ
Learning Objectives
- Analyze the consequences of decreasing returns on income distribution among employees.
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