119.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?
120.Janitors in India might make $1,000 per year, while they could easily earn $20,000 per year in the United States. How is this a forgone gain from trade?
121.The supply of nurses in country A is the same as the supply in country B, but the nurses in country A earn 90% more than the nurses in country B. What can explain this difference?A)The labor demand curve for nurses in country A is upward sloping.B)Although the labor supplies are equal across the two countries, the labor supply curve in country A is downward sloping.C)Country A's economy is more productive than country B's, so the demand for nurses is higher in country A.D)Country A uses relatively more doctors than nurses to treat patients than country B.
122.The demand for plumbers is the same in country A and country B, but the plumbers in country A earn less than the plumbers in country B. What can explain this difference?