Daniel Has Secured a Job with His Engineering Degree and Now

question 26

Multiple Choice

Daniel has secured a job with his engineering degree and now makes $80,000 for 35 hours of work per week. Monica, however, is working in administration for 45 hours a week and makes only $25,000 per year. According to the text, this contrast is an example of which of the following terms?

• A) education
• B) investment
• C) polarization
• D) politics

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Definitions:

World Price

The international price at which goods are traded between countries, influencing domestic prices and the balance of trade.

Comparative Advantage

The ability of a country or entity to produce a specific good or service at a lower opportunity cost than others, leading to specialization in trade.

Tires

Rubber-based components that fit around the rims of wheels to provide vehicles with traction, support, and a cushion from the impact of the road.

Microchips

Small semiconductor devices containing electrical circuits that can perform calculations or store data.