2.Alice is very skilled at fixing computers. Would you expect her high productiv

Question

2.Alice is very skilled at fixing computers. Would you expect her high productivity to result in a high real wage for her? Why or why not?

3.What are the two major factors contributing to increased inequality in wages? Briefly, why do these factors raise wage inequality? Contrast possible policy responses to increasing inequality in terms of their effects on economic efficiency.

4.List the 3 types of unemployment and their causes. Which of these is economically and socially least costly? Why?

5.Describe some structural features of the European labor markets why European employment rates are so high. If these structural features create unemployment, why don’t European governments just eliminate them?

Explanation / Answer

2. Since Alice is very skilled at fixing computers she would be showing high level of accuracy which will automatically increase her productivity level. Thus assuming that the price level remains the same and the productivity of alice remaining high her real wages would increase.

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