118. Aside from your skills and how hard you work, what does your marginal product of labor reflect?A) your supply of laborB) the productivity of everyone else in your economyC) your chance of death on the jobD) nothingAns:
BDifficulty: MediumSkill Descriptor: Concept-BasedTopic: Labor Market Issues119. Imagine that you could travel back in time to another era, bringing with you all the knowledge you have from the modern age. Your wage in the older era might be higher because people with your knowledge were in short supply then. But why might your wage also be lower?
ADifficulty: MediumSkill Descriptor: Critical-ThinkingTopic: Labor Market Issues120. Janitors in India might make $1,000 per year, while they could easily earn $20,000 per yearin the United States. How is this a forgone gain from trade?
CDifficulty: MediumSkill Descriptor: Critical-ThinkingTopic: Labor Market Issues