Which of the Following Explains the Widening Earnings Gap Between

question 238

Multiple Choice

Which of the following explains the widening earnings gap between skilled and unskilled workers in the United States?

• A)International trade has altered the relative demand for skilled and unskilled labor.
• B)Changes in technology have altered the relative demand for skilled and unskilled labor.
• C)Both a and b are correct.
• D)None of the above is correct.

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Definitions:

Accounts Payable

Refers to the amount a company owes to suppliers or vendors for goods and services received but not yet paid for.

Accounting Equation

The fundamental principle of accounting that states assets equal liabilities plus owner's equity (Assets = Liabilities + Owner's Equity).

Asset

Resources owned by a company that have economic value and can provide future benefits, such as cash, inventory, and equipment.

Liability

A liability refers to financial obligations or debts that a company owes and is required to repay in the future.