Assuming Competitive Markets,migration in Response to Wage Differentials Will Likely

question 8

Multiple Choice

Assuming competitive markets,migration in response to wage differentials will likely result in:

• A)an increase in the total value of output,but reduced economic efficiency
• B)a decrease in both the value of output and economic efficiency
• C)an increase in both the value of output and economic efficiency
• D)an increase in the size of the wage differential

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Definitions:

Bill For Establishing Religious Freedom

A Virginia law, drafted by Thomas Jefferson in 1777 and enacted in 1786, that guarantees freedom of, and from, religion.

Apprenticeship And Indentured Servitude

A system where a person learns a trade from a skilled employer, historically often without pay but in exchange for food, accommodation, and training.

Decline

A gradual deterioration in condition, quality, or standard.

Republican Citizenship

A form of citizenship that emphasizes civic duty, participation in self-governance, and the upholding of community values over individual interests, often associated with the ethos of the Roman Republic.