Which statement is true?
A. There are no professions where women earn more than their male counterparts.
B. In most occupations, women earn about the same as men.
C. The wage gap between women and men has somewhat widened over the last 40 years.
D. Today, the great divide between the haves and the have-nots is a college degree.
D. Today, the great divide between the haves and the have-nots is a college degree.
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Income inequality in the United States has increased in part due to technological change. How does technological change contribute to income inequality?
A) It reduces the cost of producing goods and therefore lowers the value of labor services. B) It is responsible for a majority of new products on the market, and these products are only affordable to higher-income households. C) It allows manufacturers to produce products with less labor, and this reduction in the demand for labor lowers wages at all skill levels. D) It has created many higher-income jobs for skilled and trained workers, leaving the income of less-skilled workers relatively unchanged by comparison.
In November 2008, the air traffic controllers who work at Guam became unionized. What would NOT be a way for the union to influence labor demand?
A) Have monthly training which improves the marginal productivity of the air traffic controllers. B) Support minimum wage laws. C) Creating job certification which limits the number of newly certified air traffic controllers. D) Lobby the government to limit who can apply to be an air traffic controller in Guam to those who are certified through the union.