Multiple Choice
Use the figure below to answer the following questions.
Figure 19.3.1
-Refer to Figure 19.2.1.For any given quantity of labour employed,
A) the elasticity of demand for high-skilled labourers is less than the elasticity of demand for low-skilled labourers.
B) high-skilled labourers will receive a lower wage than low-skilled labourers.
C) high-skilled labourers will receive a greater wage than low-skilled labourers.
D) the vertical distance between the two demand curves is the compensation for the cost of acquiring the skill.
E) the vertical distance between the two curves is the present value of human capital.
Correct Answer:
Verified
Correct Answer:
Verified
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