The higher the cost of acquiring skills, the _______ are the high- skilled and low- skilled labour _______ curves.

Question

Quizplus · Accepted Answer

When the cost of acquiring skills is higher, fewer individuals are likely to invest in acquiring high-level skills, leading to a decrease in the supply of high-skilled labor. This makes the supply curves for high-skilled and low-skilled labor farther apart, as the supply of high-skilled labor decreases relative to low-skilled labor.

The Higher the Cost of Acquiring Skills, the _______ Are