Differences in skills
i.can arise partly from differences in education and/or partly from differences in on-the-job training.
ii.can lead to large differences in earnings.
iii.result in different demand curves for high-skilled and low-skilled labor.

Question

Quizplus · Accepted Answer

Differences in skills can indeed arise from variations in education and on-the-job training, lead to significant disparities in earnings, and result in different demand curves for high-skilled versus low-skilled labor. This is because the labor market values skills differently, and those with higher skills or more specialized training tend to earn more and have different job opportunities compared to those with lower skills.

Differences in Skills I.can Arise Partly from Differences in Education And/or Partly from And/or