Since 1973,in the United States Wages of Skilled Workers Have

question 21

Multiple Choice

Since 1973,in the United States wages of skilled workers have

• A) risen more slowly than those of unskilled workers.
• B) fallen due to foreign trade.
• C) remained constant.
• D) risen faster than those of unskilled workers.

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Definitions:

Redistribution of Income

Economic policies or mechanisms intended to adjust the distribution of wealth or income in a society.

Income Equality

Income equality refers to a scenario where earnings are distributed evenly across a population. It is the opposite of income inequality where earnings are unequally distributed.

Economic Efficiency

A measure of how well resources are utilized and allocated to maximize productivity and meet the needs and wants of society.

Quintile Distribution

The division of a population or dataset into five equal groups or parts, often used in economic studies to analyze income or wealth distribution.