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DEVIANT OBSERVATIONS IN THE LABOR MARKET
JOB COMPETITIONZ THE LABOR QUEUE 75
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average background characteristics basic beneﬁts blacks Census Centimillionaires changes college workers demand curves depends determine diseconomies of scale disequilibrium distributing economic distribution of earnings distribution of economic distribution of income distribution of job earnings and wealth economic equity economic game economic power economic prizes eﬂiciency elasticities employer equilibrium exist exogenous explain factors of production ﬁnancial ﬁnd ﬁrms ﬁrst fortunes future consumption ginal grade-school workers high-school workers hiring human capital individual individualís inheritance inheritance taxes interdependent preferences investment job distribution job opportunities job-competition model labor economics labor force labor market labor queue lead less lottery lower males marginal productivity marginal-productivity theory maximize micro-economics monopoly necessary nomic on-the-job training paid percent physical wealth possible problem proﬁts random-walk rate of return real capital markets result social social-welfare function speciﬁc statistical discrimination supply curve theory of distribution tion training costs wage competition wage differentials