question archive 1)Why do skilled workers generally earn more than unskilled workers? A) The demand for unskilled labor is more inelastic than the demand for skilled labor
1)Why do skilled workers generally earn more than unskilled workers? A) The demand for unskilled labor is more inelastic than the demand for skilled labor
Subject:EconomicsPrice: Bought3
1)Why do skilled workers generally earn more than unskilled workers?
A) The demand for unskilled labor is more inelastic than the demand for skilled labor.
B) Skilled labor has higher marginal revenue products than unskilled labor.
C) The demand for unskilled labor is greater than the demand for skilled labor.
D) The supply of skilled labor is greater than the supply of unskilled labor.
2)Other things being the same, if the demand for labor is inelastic:
A) decreases in wage rates will result in greater payrolls.
B) increases in wage rates will result in greater payrolls.
C) decreases in wage rates will increase both employment and worker incomes.
D) increases in wage rates will result in smaller payrolls.
