Use the table, with data for workers and businesses, to answer the question. The payoff cells are labeled A, B, C, and D. $${ \text { Table: High Wage or Low Wage? } } \
\begin{array} { | l | l | l | }
\hline & { \begin{array} { c }
\text { Businesses create unskilled } \
\text { jobs. }
\end{array} } & { \begin{array} { c }
\text { Businesses create skilled } \
\text { jobs. }
\end{array} } \
\hline \text { Workers don't get training. } & \text { A. A low-skilled labor market } & \begin{array} { l }
\text { B. A shortage of skilled } \
\text { workers }
\end{array} \
\hline \text { Workers get training. } & \text { C. A shortage of skilled jobs } & \begin{array} { l }
\text { D. A high-skilled labor } \
\text { market }
\end{array} \
\hline
\end{array}$$ If payoffs in cells A or D are equally likely, which of the following approaches would help solve the problem and lead to D?
A)Workers continue to avoid training, as they have been accustomed to doing in the past.
B)Businesses announce that they will work with whatever skill level exists in the workforce.
C)All firms move to common resource ownership.
D)The government adds workforce skill training to compulsory education requirements.

Question

Use the table, with data for workers and businesses, to answer the question. The payoff cells are labeled A, B, C, and D. $${ \text { Table: High Wage or Low Wage? } } \
\begin{array} { | l | l | l | } 
\hline & { \begin{array} { c } 
\text { Businesses create unskilled } \
\text { jobs. }
\end{array} } & { \begin{array} { c } 
\text { Businesses create skilled } \
\text { jobs. }
\end{array} } \
\hline \text { Workers don't get training. } & \text { A. A low-skilled labor market } & \begin{array} { l } 
\text { B. A shortage of skilled } \
\text { workers }
\end{array} \
\hline \text { Workers get training. } & \text { C. A shortage of skilled jobs } & \begin{array} { l } 
\text { D. A high-skilled labor } \
\text { market }
\end{array} \
\hline
\end{array}$$ If payoffs in cells A or D are equally likely, which of the following approaches would help solve the problem and lead to D?
A)Workers continue to avoid training, as they have been accustomed to doing in the past.
B)Businesses announce that they will work with whatever skill level exists in the workforce.
C)All firms move to common resource ownership.
D)The government adds workforce skill training to compulsory education requirements.

Quizplus · Accepted Answer

To achieve the outcome in cell D, "A high-skilled labor market," it's necessary to increase the skill level of the workforce. The most direct way to accomplish this is by enhancing the education and training of workers. Option D, adding workforce skill training to compulsory education requirements, directly addresses the need for a more skilled workforce, which in turn would lead to the creation of more skilled jobs by businesses.

Use the Table, with Data for Workers and Businesses, to Answer