Which of the Following Would Explain Why Skilled Workers Generally

question 31

Multiple Choice

Which of the following would explain why skilled workers generally earn more than unskilled workers?

• A)Skilled labor has higher value of the marginal product of labor.
• B)Skilled labor has a more elastic demand curve.
• C)There is more of a supply of unskilled labor.
• D)There is more demand for unskilled labor.

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Definitions:

Graphical Method

A technique of solving mathematical problems by representing them with graphs.

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact by controlling and varying one or more variables.

Mutually Exclusive

Events that cannot occur at the same time, implying that the occurrence of one event excludes the occurrence of the other.

Events

Outcomes or occurrences that can be clearly defined, measured, and distinguished from other events in a probability context.