Skilled labor is relatively scarce because ?

Related Mcqs:

1. Assume that Country A is relatively abundant in labor and Country B is relatively abundant in land Note that wages are the returns to labor and rents are the returns to land According to the factor price equalization theorem, once Country A begins specializing according to comparative advantage and trading with Country B: A. wages and rents should fall in Country A B. wages and rents should rise in Country A C. wages should rise and rents should fall in Country A D. wages should fall and rents should raise in Country A ?

   XA. wages and rents should fall in Country A
   B. wages and rents should rise in Country A
   C. wages should rise and rents should fall in Country A
   D. wages should fall and rents should raise in Country A

2. The Heckscher-Ohlin theorem states that a country will have comparative advantage in the good whose production in relatively intensive in the with which the country is relatively abundant ?

   A. tastes
   B. technology
   C. factor/resource
   D. opportunity cost

3. _______ states that as real GNP per capita rises, people demand relatively more social goods and relatively fewer private goods?

   A. incomes policy
   B. Moral hazard
   C. Wagner’s law
   D. Fiscal policy

4. The market efficiently allocates scarce resource among alternative ends such that ?

   I- consumers receive goods for which they are willing to pay
   II- Production resources hire out to maximize income)
   III- the market determines available labor and capital
   IV- the market distributes income among rich individuals

   A. III and IV only
   B. II and III only
   C. I, II and III only
   D. I, II, III and IV

5. _____ 1954 study of U.S trade patterns showed that U.S exports were labor-intensive compared with U.S imports, even though the United States was widely regarded as a relatively capital-abundant nation ?

   A. Paul Samuelson’s
   B. Wolfgang Stolpher’s
   C. Staffan Linder’s
   D. Wassily Leontief’s

6. Economists have hypothesized that the widening gap between the wages of unskilled workers and skilled workers may be due to ?

   A. decrease in the demand for unskilled workers because of increases in technology and increases in international trade
   B. increase in the number of unskilled workers available due to immigration into the UK.
   C. decrease in the demand for unskilled workers are more poorly educated
   D. increase in the number of unskilled workers available because workers are more poorly educated

7. Which of the following is true with regard to a tax on labor income? Taxes on labor income tend to encourage ?

   A. the unscrupulous to enter the underground economy
   B. the elderly to retire early.
   C. all the things described in these answers.
   D. second earners to stay home.
   E. workers to work fewer hours

8. one of the tenets of the classical view of the labor market is that the wage adjustments that are necessary to clear the labor market occur ?

   A. quickly
   B. slowly
   C. very infrequently
   D. instantly

9. The emigration of highly-skilled people from the developing countries is known as ?

   A. The brain drain
   B. human capital deterioration
   C. productivity
   D. labor degradation

10. Relatively low real interest rates in the United States tend to ?

    A. decrease the foreign demand for dollars causing the dollar to depreciate
    B. decrease the foreign demand for dollars causing the dollar to appreciate
    C. increase the foreign demand for dollars causing the dollar to depreciate
    D. decrease the foreign demand for dollars causing the dollar to appreciate