Explain How Immigration and Trade May Worsen Wage Inequality, and How

question 81

Essay

Explain how immigration and trade may worsen wage inequality, and how college education may mitigate against that.

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Definitions:

Attainable

Referring to a goal or objective that can be reached or achieved, especially through effort or strategy.

Per-Worker Production Function

A graphical representation that shows the relationship between the amount of output produced per worker and the amount of capital available per worker.

Shape

The external form or appearance of an object, defined by its outline or surface configuration.

Diminishing Marginal Returns to Labor

A principle stating that if the amount of a variable resource (such as labor) increases while other factors are fixed, the additional output generated by the additional input will eventually decrease.