One Reason Economic ________ Occurs Is Because High-Skilled Workers ________

question 147

Multiple Choice

One reason economic ________ occurs is because high-skilled workers ________.

• A) inequality; have a higher value of marginal product than low-skilled workers and earn higher wages
• B) inequality; pay higher income taxes on their higher wages
• C) income redistribution; have a higher value of marginal product than low-skilled workers
• D) equality; earn higher wages so firms demand less high-skilled labor
• E) equality; have a lower value of marginal product due to higher wages

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Definitions:

Assignment Valid

Refers to the legal transfer of one party's rights and benefits under a contract to another party, recognized as legitimate and binding.

Delegable

Capable of being assigned or entrusted to another person or party, particularly in the context of duties or authority.

Contractual Duty

An obligation imposed by a contract that requires a party to act or refrain from acting in a certain manner.

Novation

The act of replacing an obligation to perform with a new obligation or replacing a party to an agreement with a new party.