Why might equally competent and hard working janitors

  • Nova
  • ECON 202
  • Test Prep
  • SamuelA0
  • 58
  • 88% (16) 14 out of 16 people found this document helpful

This preview shows page 24 - 27 out of 58 pages.

We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Macroeconomics for Today
The document you are viewing contains questions related to this textbook.
Chapter 4 / Exercise 3
Macroeconomics for Today
Tucker
Expert Verified
117.Why might equally competent and hard-working janitors earn more in the United States than in India?A)India does not have labor markets.B)Economics is not the same in the United States as it is in India.C)An hour of janitorial service raises less revenue in the United States because the U.S. firm is more productive.D)An hour of janitorial service raises more revenue in the United States because the U.S. firm is more productive.
118.Aside from your skills and how hard you work, what does your marginal product of laborPage 24
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Macroeconomics for Today
The document you are viewing contains questions related to this textbook.
Chapter 4 / Exercise 3
Macroeconomics for Today
Tucker
Expert Verified
reflect?
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?
Page 25
123.Janitors in the United States get paid more than janitors in India because, compared with India:

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture