The Wage Rate for High-Skilled Labor Is Higher Than That

question 330

Multiple Choice

The wage rate for high-skilled labor is higher than that for low-skilled labor because

• A) both the demand for and the supply of high-skilled labor is greater than that for low-skilled labor.
• B) the demand for high-skilled labor is greater than the demand for low-skilled labor and the supply of high-skilled labor is less than the supply of low-skilled labor.
• C) the demand for high-skilled labor is less than the demand for low-skilled labor and the supply of high-skilled labor is greater than the supply of low-skilled labor.
• D) both the demand for and the supply of high-skilled labor is less than that for low-skilled labor.

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