Which of the following is a recent trend in the labor market?
A) Low-skilled workers have lost jobs.
B) The demand for high-skilled labor has increased as technology has increased.
C) The wages of high-skilled labor have decreased.
D) The marginal productivity of low-skilled workers has increased.
B
You might also like to view...
Explain why a monopoly that knows the demand curve of identical consumers can set a two-part tariff with the lump sum tariff equal to the total amount of potential consumer surplus
What will be an ideal response?
Holding demand constant, a reduction in supply leads to
A) lower prices and higher quantity demanded. B) lower prices and lower quantity demanded. C) higher prices and higher quantity demanded. D) higher prices and lower quantity demanded.
The main difference between GDP and GNP is that GNP excludes: a. net income of foreigners
b. consumption of fixed capital. c. transfer payments. d. government purchases.
Herbert Simon, one of the first social scientists to combine the study of economics and psychology, suggested that humans should be viewed as
a. rational maximizers. b. satisficers. c. independent thinkers. d. signalers.