The application does not discuss how much an employee is paid. It includes details about past work experiences, activities to teach, and schooling information, which helps employers assess a candidate's quality due to asymmetric information in the labor market.
Step-by-step explanation:
The information not discussed in the application mentioned is how much an employee is paid. In the context of labor markets and asymmetric information, the application may include details related to past summer work experiences, activities applicants are interested in teaching, and where applicants are currently attending school. However, specific salary information is typically not included in the initial job application but may be discussed later during the interview process or upon a job offer.
Potential employers like the one reviewing Greta's application use various signals to gauge the quality of candidates due to the information asymmetry present in the labor market. These signals include educational background, academic achievements, and references which can indicate a candidate's work ethic, energy level, and other intrinsic qualities that are valuable in the workplace but hard to assess until the individual is hired.