Differences in marginal revenue products are the most important factor in explaining wage differences. Other factors that explain wage differences include all but one of the following. Which factor does not help explain differences in wages?

The price elasticity of demand for good x is defined as:

a. percentage change in px / percentage change in x. b. percentage change in x /percentage change in px. c. percentage change in x/percentage change in income. d. percentage change in x /percentage change in py.

Crowding in is the result of

A. Rising unemployment. B. Rising government borrowing. C. Falling interest rates. D. Declining business confidence.