The ________ Distance Between the Supply Curve of Low-Skilled Labor

question 56

Multiple Choice

The ________ distance between the supply curve of low-skilled labor and the supply curve of high-skilled labor is the ________.

• A) horizontal; value of marginal product of skill
• B) horizontal; compensation for cost of acquiring skill
• C) vertical; value of marginal product of skill
• D) vertical; compensation for cost of acquiring skill
• E) vertical; difference in the price of the product produced b y high-skilled labor minus the price of the product produced by low-skilled labor

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Definitions:

Charitable Purposes

Activities undertaken with the aim of providing relief to the poor, advancing education, or other acts benefiting the community without profit motive.

Formalities

Specific procedures or requirements that must be observed in legal transactions, such as contracts or the execution of a will.

Void

A term describing a contract or legal agreement that has no legal effect and cannot be enforced by law.

Bequest

In a will, a gift of personal property or money. Also called a legacy.