Wages for high-skilled labor have risen more than wages for low-skilled labor even though more people are highly skilled college graduates than ever before. Which of the following explains this?
a. The demand for high-skilled labor has risen alongside the number of college graduates.
b. The demand for low-skilled labor has risen while the demand for high-skilled labor remains the same.
c. The value of both high-skilled labor and low-skilled labor has risen, but demand for both remains the same.
d. The value of low-skilled labor has risen alongside the number of high school graduates.
a. The demand for high-skilled labor has risen alongside the number of college graduates.
Economists use the demand and supply model to reason through the most likely causes of this shift. The increase in the price of high-skilled labor must be explained by a greater demand, because without higher demand, the price of high-skilled labor would go down as more people become highly skilled.
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Which of the following would constitute the strongest evidence of employment discrimination against female employees?
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A mutual fund
a. is a financial market where small firms mutually agree to sell stocks and bonds to raise funds. b. is funds set aside by local governments to lend to small firms who want to invest in projects that are mutually beneficial to the firm and community. c. sells stocks and bonds on behalf of small and less known firms who would otherwise have to pay high interest to obtain credit. d. is an institution that sells shares to the public and uses the proceeds to buy a selection of various types of stocks, bonds, or both stocks and bonds.
Labor productivity growth is the growth rate of output per person in the economy.
Answer the following statement true (T) or false (F)