Table 19-1 Source: US Census Bureau and Mankiw's Calculations

question 201

Multiple Choice

Table 19-1 Source: US Census Bureau and Mankiw's calculations
-Refer to Table 19-1. Economists suspect that the increase in the earnings gap between skilled and unskilled workers is likely due to

• A)an increase in the demand for skilled labor relative to the demand for unskilled labor.
• B)an increase in international trade.
• C)improvements in technology.
• D)All of the above are correct.

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Definitions:

Bundle

A collection of goods or services packaged together, often sold for a single price.

Constants

Fixed values in algebraic expressions or equations that don't change, or in scientific investigations, variables that remain the same throughout the experiment.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, illustrating preferences.

Absolute Values

The non-negative value of a real number without regard to its sign, represented as the distance of a number from zero on the number line.