This topic contains a solution. Click here to go to the answer

Author Question: How might technological change and globalization explain trends in the distribution of income? ... (Read 129 times)

rlane42

  • Hero Member
  • *****
  • Posts: 594
How might technological change and globalization explain trends in the distribution of income?
 
  What will be an ideal response?

Question 2

A firm's managers need information on the firm's revenue and costs as well as information on the value of a firm's assets and the amount of the firm's debts to answer three basic questions.
 
  Which of the following is not one of those three basic questions?
  A) how to produce it? B) where to produce?
  C) what to produce? D) what price to charge?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mk6555

  • Sr. Member
  • ****
  • Posts: 310
Answer to Question 1

Technological change and globalization have both changed the distribution of income so that the rich get richer and the poor get poorer. More specifically, technological change has increased the demand for high-skilled workers and increased their wage rates and incomes. It also has decreased the demand for low-skilled workers and decreased their wage rates and their income. Globalization also has increased the demand for high-skilled workers and decreased the demand for low-skilled workers in the United States. Globalization has made contests worldwide, so the prizes for the best superstarsbe they athletes or business managershave increased with the increase in the size of the market.

Answer to Question 2

B





 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

The Food and Drug Administration has approved Risperdal, an adult antipsychotic drug, for the symptomatic treatment of irritability in children and adolescents with autism. The approval is the first for the use of a drug to treat behaviors associated with autism in children. These behaviors are included under the general heading of irritability and include aggression, deliberate self-injury, and temper tantrums.

For a complete list of videos, visit our video library