The returns to education are
A) lowest in developing nations. B) highest in developing nations.
C) never reflected in the wages of workers. D) highest in developed nations.
B
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Which of the following ideas are included in classical growth theory?
I. Subsistence real GDP per person II. Growth in real GDP per person is temporary. III. Technological change induces investment. A) I only B) I and II C) II and III D) I, II and III
The demand curve for high-skilled labor lies to the right of the demand curve for low-skilled labor because
A) there are more high-skilled workers than low-skilled workers. B) high-skilled workers require more compensation to convince them to work than do low-skilled workers. C) high-skilled labor is more productive than low-skilled labor. D) firms need not be concerned with the minimum wage in the market for high-skilled labor.