If Unskilled Labor and Capital Are Substitutes

question 18

Multiple Choice

If unskilled labor and capital are substitutes,

• A) the demand for unskilled labor increases when the price of capital decreases.
• B) the cross-elasticity between unskilled labor and capital is positive.
• C) the price of unskilled labor decreases when the price of capital increases.
• D) the price of capital is increasing.
• E) the demand curve for capital is upward sloping.

Understand the foundational concepts of major sociological theories and theorists.

Identify and describe the implications of micro and macrosociological perspectives in sociological analysis.

Differentiate between various theoretical perspectives such as postmodernism, symbolic interactionism, and structural functionalism.

Examine the sociological significance of individual and social phenomena through theoretical frameworks.

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Definitions:

Economic Issues

Problems or challenges affecting the economy of a country or region, including inflation, unemployment, recession, and policies related to government spending and taxation.

Cultural Issues

Matters and disputes that arise from differences in beliefs, values, and practices among various cultures or societies.

Agents of Socialization

Individuals, groups, and institutions that play a significant role in integrating individuals into the social structure by teaching social norms, values, and customs.

Early Socialization

The process by which individuals, especially children, learn and adopt the norms, values, behaviors, and social skills appropriate to their society from an early age.