Which of the Following Does Not Explain Wage Differentials in Long-Run

question 1

Multiple Choice

Which of the following does not explain wage differentials in long-run equilibrium?

• A)The relative attractiveness of jobs
• B)The level of investment in human capital
• C)The size of the work force in the economy
• D)The variation in the abilities of workers

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Definitions:

Technological Differences

The variations in technology across different cultures, societies, or historical periods, impacting development, efficiency, and lifestyles.

Social Differences

Variations in the socioeconomic status, cultural background, or demographic characteristics among individuals or groups within a society.

Historical Types

Classifications used in history and historiography to identify and categorize periods, societies, or phenomena based on common characteristics.

Reference Group

A social group that individuals use as a standard for evaluating themselves and their own behavior, often influencing attitudes and norms.