In order to explain the changing gap in earnings between skilled and unskilled workers in recent years, economists have proposed two hypotheses. One hypothesis emphasizes
a. compensating differentials.
b. the increased recognition that a larger stock of human capital usually leads to higher earnings.
c. technological progress.
d. the decreasing importance of international trade.
c
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Productivity gains in the United States since 1990 have been ________ productivity gains in other leading industrial nations
A) the same as B) higher than C) lower than D) more variable than
Refer to Table 20-19. Looking at the table above, what is the approximate rate of growth of real average hourly earnings from 2014 to 2015?
A) 15% B) 4.4% C) -1.5% D) -4.8%
The total amount of consumption of a society can be increased if
a. firms allow each worker to perform multiple tasks. b. resources are allocated by a central planning group. c. individuals engage in specialization and voluntary trade. d. barter exchange is used in place of money.
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.