2. Alternative explanations of wage disparities Suppose that a professor of labor economics finds that one of their research subjects has earned significantly higher wages throughout their lifetime than would be predicted by standard measured variables. The economist also notes that each of the subject's job roles was linked to social connections established at their family's yacht club. Which item from the following list most likely explains this individual's high earnings? Chance Efficiency wages Compensating differentials Effort Suppose that Neha receives higher pay from her company than her colleagues, despite the fact that they perform basically the same type of role. If Neha's productivity is about 37 percent higher than that of her second-best colleague, which of the concepts from the following list can explain this wage disparity? Check all that apply. Human capital Natural ability Effort Efficiency wages Compensating differentials