Economics assessment

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Economics assessment Income Distribution Nathalie
Saleeba and Karina Brennan
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• Measuring Average Weekly Earnings
• Average weekly ordinary time earnings for
  full-time adults this measures the average
  weekly gross rate pay (I.e. pay before tax)
  received by all full-time adult workers for their
  ordinary working time. This does not include
  payment for any overtime work.
• Average total earnings for full-time adults
  this measures the average weekly gross rate of
  pay received by all full-time adult workers,
  including any payment for overtime work
• Average total earnings for all employees this
  measures the average weekly gross rate of pay to
  all employees, both in full-time and part-time
  employment, including any payment for overtime

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Comparative Percentile Bands of income by age,
1999 - 00
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Who wants to be a millionaire?

• Question one What does the main labour outcomes
  involve?
• Wages
• Non-wage benefits
• Employment outcomes
• All of the above

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• Question two What provides the highest
  percentage of household incomes for Australians?
• Wages and salaries
• Government pensions or allowances
• Private income
• Operating a business

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• Question three What does the Wage Cost Index
  measure?
• Changes in wage and employee jobs
• Changes in salary costs for employee jobs
• Changes in wage and salary cost for employee jobs
• Changes in the quality and quantity of work
  performed

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• Question four Which of the following does not
  include payment for overtime work?
• Average weekly ordinary time earnings for
  full-time adults
• Average total earnings for full-time adults
• Average total earnings for all employees
• All of the above

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• Question five What are real wages?
• A measure of the average weekly gross rate of pay
  that a full-time employee receives, including
  overtime
• A measure of the actual purchasing power of money
  wages
• A measure of change in wage and salary costs for
  employee jobs
• A measure of the average weekly gross rate of pay
  that a full-time employee receives, excluding
  overtime

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• Question six In the labour market, people are
  generally rewarded for working in which
  occupations?
• Those which require a higher level of skill and a
  longer period of training
• Those which require a higher level of skill and a
  shorter period of training
• Those which require a lower level of skill and a
  longer period of training
• Those which require a lower level of skill and a
  shorter period of training

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• Question seven What will influence wage rates?
• Occupational mobility
• Geographical labour mobility
• Productivity of labour
• All of the above

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Question eight In what age bracket does income
tend to be the highest? a) 15 24 b) 25 34 c)
45 54 d) 55 - 64
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• Question nine What is the major reason that
  women are paid less than men for the same job?
• Men like to feel superior to women and, seeing as
  most employers are men, most women are paid less
• Female labour is under evaluated
• There isnt any females are paid the same as
  males
• Women like to be paid less than men

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• Question ten Migrants from which area earn most
  income within Australia?
• Asia
• Europe
• Africa
• America