Recent Research by McKinsey Global Institute Suggests That by 2020

question 57

Multiple Choice

Recent research by McKinsey Global Institute suggests that by 2020, the worldwide shortage of highly skilled, college-educated workers could reach

• A) 2 million
• B) an all-time low
• C) 12 million
• D) almost 40 million

Understand the role of risk taking, thrill seeking, and constraints in problem-solving.

Differentiate between various motivations and their impacts on creativity and problem-solving.

Understand the fundamental principles of international trade.

Identify the major trade agreements and their member countries.

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Definitions:

Initial Endowment

The initial allocation of assets, income, or resources that an individual, institution, or country possesses.

Min

The smallest or least possible amount, quantity, value, or degree.

Pareto Optimal Allocation

A distribution of resources in which it is impossible to make any individual better off without making at least one individual worse off.

Endowed

Provided with a large amount of a resource or quality, often referring to financial grants given to institutions or individuals.