Over the past several years, the earnings gap between high-skilled and low-skilled workers has widened because (i) international trade has altered the relative demand for skilled and unskilled labor. (ii) changes in technology have altered the relative demand for skilled and unskilled labor. (iii) the return to education for men has decreased, whereas the return to education for women has
increased.
a. (i) only
b. (iii) only
c. (i) and (ii) only
d. (i), (ii), and (iii)
c
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Refer to Table 4-3. The table above lists the marginal cost of polo shirts by Marko's, a firm that specializes in producing men's clothing. If the market price of Marko's polo shirts is $13, Marko's will produce
A) 1 shirt. B) 2 shirts. C) 3 shirts. D) 4 shirts.
Refer to the Article Summary. Assuming the findings are correct and all else equal, people who do not shop at Trader Joe's can still benefit from living near the store, as is shown by the higher home values. As a result, the marginal social benefit from living near a Trader Joe's is ________ the marginal private benefit to those who shop at Trader Joe's.
A) less than B) equal to C) greater than D) unrelated to