Two Explanations for Increasing Wage Inequality Are ________ and ________

question 94

Multiple Choice

Two explanations for increasing wage inequality are ________ and ________.

• A)technological progress; a modernized capital stock
• B)increased labor supply; a slowdown in productivity growth
• C)increased worker mobility; transition aid
• D)globalization; skill-biased technological change

Interpret economic diagrams related to trade and tariffs.

Evaluate the overall welfare effects of trade on a country.

Identify the effects of trade on domestic production and consumption.

Understand the role of world price in determining whether a country will import or export a good.

---

Definitions:

Bootstrap Tool

A statistical method that enables estimation of the sampling distribution of almost any statistic by resampling with replacement from an existing sample data.

Optimum Consulting

Refers to an ideal or most favorable consulting service that offers strategic advice and solutions tailored to client needs.

Simulation

The process of creating a model of a real-world system and conducting experiments on that model to understand its behavior or to make predictions.

Forecast Charts

Visual tools that display predicted data trends over time to aid in forecasting future activities, trends, or values.