-Refer to above figure. Why would workers not shift from agriculture to manufacturing in the initial situation where wages are higher in the latter?
Definitions:
Scatterplot
A scatterplot is a type of graph used in statistics to display the relationship between two numerical variables, with data points represented as dots in a two-dimensional space.
Data Set
A group of related information sets that consists of distinct parts yet can be managed as a single entity by a computer.
Life Expectancy
The average number of years an individual or population is expected to live, based on current mortality rates and other demographic factors.
Regression Model
A statistical technique used to predict the value of a dependent variable based on the values of one or more independent variables.
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