Globalization Critics Argue That the Decline in Unskilled Wage Rates

question 72

Multiple Choice

Globalization critics argue that the decline in unskilled wage rates in advanced economies is due to the

• A) migration of low-wage manufacturing jobs offshore.
• B) technology-induced shift toward jobs that require significant education and skills.
• C) increased supply of highly skilled workers.
• D) increasing demand for unskilled workers.
• E) reducing national differences in the cost of labor between developed and developing nations.

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Definitions:

Limited Number

A restricted quantity, usually referring to a specific allocation or issuance of items, resources, or opportunities.

Standard Deviation

A measure of the dispersion or variability of a set of data points from their mean, used in statistics to quantify the amount of variation or dispersion of a dataset.

Total Risk

The complete spectrum of all types of risk that an investment or project might face, including both systematic and unsystematic risks.

Market Risk Premium

The extra return over the risk-free rate that investors demand for choosing to invest in the stock market over a risk-free asset.