Wage Inequality Has Been on the Rise in Virtually All

question 25

Multiple Choice

Wage inequality has been on the rise in virtually all high-income industrial economies since the 1970s.The causes are probably numerous,but the leading explanation for the greatest share of the increase in inequality is

• A)the growth of trade with developing countries.
• B)the growth of trade with other high income industrial countries.
• C)technological change which increased the relative demand for skilled workers.
• D)technological change which increased the relative demand for unskilled workers.
• E)technological change which decreased the relative demand for skilled workers.

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Definitions:

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from total sales revenue.

Cost of Goods Sold

Cost of goods sold represents the direct costs attributable to the production of the goods sold in a company, including material and labor costs.

Sales Cycle

The complete process or journey that a company undertakes from identifying a sales prospect to closing the sale, including all customer interaction and sales processes.

Merchandise

Goods bought and sold by a business in the ordinary course of its trading activities.