What is meant by the skill-bias technological explanation of increasing inequality?
A. Inequality has increased because technological advances over the last 40 years have complemented the productivity of unskilled labor relative to foreign labor.
B. Inequality has increased because technological advances have not kept pace with the demand for education.
C. There has been increasing inequality over the last 40 years among high-skilled workers.
D. There has been increasing inequality over the last 40 years because unskilled workers use no technology.
E. Inequality has increased because technological advances over the last 40 years have complemented the productivity of skilled labor relative to unskilled labor.
Answer: E
You might also like to view...
Pineapple growing is a perfectly competitive industry. How does the market demand curve for pineapples compare to the demand curve for an individual pineapple grower?
What will be an ideal response?
With everything else the same, in the foreign exchange market which of the following increases the supply of U.S. dollars?
I. a fall in the U.S. interest rate II. a fall in interest rates in foreign countries III. a rise in expected future exchange rate A) I only B) I and II only C) I and III only D) I, II, and III
Suppose the demand for wine is elastic and that initially 5 million bottles of wine are produced and consumed in the United States. If the government imposes a tax of $2 per bottle of wine, the government will collect
A) more than $10 million in tax revenues. B) $10 million in tax revenues. C) less than $10 million in tax revenues. D) an amount that may be more than, equal to, or less than $10 million in tax revenues depending on the precise elasticity of demand.
In the short run, the perfectly competitive market supply curve
a. is indeterminate b. shows the total quantities of resources used by all firms in that market, given the market price of resources c. is the same as the individual supply curve of the dominant firm d. shows the sum of the quantities of output supplied by all firms in the market at each price e. is irrelevant to potential entrants