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.

Appreciate the complexity and diversity of cultural representation and interpretation.

Understand the concept of exchange rates and their role in international economics.

Comprehend the theories explaining movements in exchange rates, including purchasing power parity.

Identify the differences and implications of floating and fixed exchange rate systems.

---

Definitions:

Material Reward

Tangible incentives such as money, bonuses, or gifts given to employees as recognition for their work or achievements.

Expectancy Theory

A psychological theory that explains motivation as a function of an individual's expectation that effort will lead to high performance and high performance will lead to desired outcomes.

Task

A specific piece of work or duty assigned to someone as part of a job or course of study.

Motivational

Pertaining to or involving the reasons why one engages in a particular behavior, particularly those that drive, direct, and maintain goal-oriented actions.