The knowledge and skills that workers have built up through education and training programs is known as ________

George Herman (Babe) Ruth was a superb baseball player, both an excellent pitcher and a record-breaking batter

Other members of the New York Yankee team, who were not as competent pitchers as Ruth, nonetheless had a comparative advantage over Ruth in pitching because A) Ruth was such a competent batter. B) the owners of the Yankees were more interested in monetary profits than in winning baseball games. C) the price system failed to provide adequate information and incentive. D) they were allowed to pitch more often and practice increased their productivity. E) too many players preferred batting to pitching.

The income of consumers increases. and the wage rate in the seafood industry increases. As a result

A) the price of seafood stays the same and the quantity sold can either increase or decrease, depending on whether the change in demand is greater than the change in supply. B) the price of seafood increases and the quantity sold can either increase, decrease or stay the same depending on whether the change in demand was greater than the change in supply. C) the equilibrium quantity sold increases and price can either increase or decrease, depending on whether the change in demand is greater than the change in supply. D) the equilibrium quantity sold can either increase or decrease and the price can either increase or decrease, depending on whether the change in demand was greater than the change in supply.