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C. individual labor supply<br />
D. market labor supply<br />
Question 38 of<br />
2.5/ 2.5 Points<br />
40<br />
Suppose that differences in skills explain part of the difference in wages by race. Wage<br />
differences arising from skill differences __________ .<br />
A. may result from past discrimination in access to<br />
education<br />
B. are not attributable to present or past discrimination<br />
C. will disappear when labor markets are in equilibrium<br />
D. are always classified as racial discrimination<br />
Question 39 of<br />
2.5/ 2.5 Points<br />
40<br />
The change in the quantity of labor demanded resulting from a change in the relative cost of<br />
labor is known as the __________ effect.<br />
A. inputsubstitution<br />
B. price elasticity<br />
C. output<br />
D. derived demand<br />
Question 40 of<br />
2.5/ 2.5 Points<br />
40<br />
Medical doctors earn higher incomes than people who have a Ph.D. in economics. This is partly<br />
because __________ .<br />
A. medical doctors are more likely to face malpractice lawsuits
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