The Wage Rate for High-Skilled Labor Is Higher Than That

Multiple Choice

The wage rate for high-skilled labor is higher than that for low-skilled labor because

A) both the demand for and the supply of high-skilled labor is greater than that for low-skilled labor.
B) the demand for high-skilled labor is greater than the demand for low-skilled labor and the supply of high-skilled labor is less than the supply of low-skilled labor.
C) the demand for high-skilled labor is less than the demand for low-skilled labor and the supply of high-skilled labor is greater than the supply of low-skilled labor.
D) both the demand for and the supply of high-skilled labor is less than that for low-skilled labor.