Some economists argue that changes in U.S. trade flows have altered the gap between wages of skilled and unskilled workers. Explain
The U.S. tends to import goods produced by unskilled workers and export goods produced by skilled workers. Increased imports and exports have reduced U.S. demand for unskilled workers and raised U.S. demand for skilled workers. Consequently, wages of unskilled workers have fallen relative to wages of skilled workers.
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Someone who earns her living rolling out pizza dough
A) is inefficiently employed if she could shift to another occupation and produce more than the person she replaces. B) is inefficiently employed if someone else could roll out more dough in less time. C) thinks she has a comparative advantage in rolling out pizza dough. D) All of the above are true.
Members of which European Union institution are popularly elected?
What will be an ideal response?
Which of the following statements provides the most accurate description of the period between the Civil War and WWI?
a. Real per capita wages were relatively flat. b. The share of immigrants was increasingly Protestant. c. Businesses became increasingly regulated. d. The average hours of work for employees in the industrial sector increased slightly.
What are the shareholder incentives within a corporation?
What will be an ideal response?