Economists who attempt to explain the increasing earnings gap between skilled and unskilled workers offer two main hypotheses:
a. one hypothesis emphasizes education, and the other emphasizes compensating differentials.
b. one hypothesis emphasizes education, and the other international trade.
c. one hypothesis emphasizes international trade, and the other emphasizes technology.
d. one hypothesis emphasizes technology, and the other emphasizes compensating differentials.
c
You might also like to view...
When the price of a good increases by 300%, the quantity supplied of the good increases from 200 units to 900 units. The price elasticity of supply of the good is:
A) 1.17. B) 1.5. C) 3. D) 4.5.
One way of expressing the concept of the short-run Phillips curve is to say that: a. the cost of reducing unemployment is higher inflation
b. nothing but good comes from reducing unemployment. c. the cost of reducing inflation is lower unemployment. d. aggregate supply and aggregate demand will always be equal at the potential output level. e. the best economic policy is one that attempts to make the rate of inflation equal to the rate of unemployment.
Things that have already been produced that are in turn used to produce other goods and services over time are called "capital."
Answer the following statement true (T) or false (F)
A period of very high and accelerating inflation is known as
A) deflation. B) disinflation. C) hyperinflation. D) nuclear inflation.