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Differences in Wages
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Differences in Wages
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15. Markets for the Factors of Production / Differences in Wages / Problem 1
Problem 1
How might an increase in the average education level of a workforce affect the overall wage levels in an economy?
A
It would have no effect on wage levels.
B
It would only affect wages in the education sector.
C
It would decrease wage levels as more people compete for the same jobs.
D
It could lead to higher overall wage levels due to increased productivity and human capital.
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