International Business: Competing in the Global Marketplace
12th Edition
ISBN: 9781259929441
Author: Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher: McGraw-Hill Education
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Chapter 5, Problem 1CDQ
Summary Introduction
Case summary:
A conference on trade and development for the Committee (UNCTAD) was established to develop a friendly integration of different countries. The idea was to develop effective policies and decisions among countries to nurture sustainable development.
They released a set of sustainable development goals to end poverty, safeguard the planet and improve the standards of life of the people. The aim was to achieve these by the end of the year 2030.
To explain: The chance of all the countries achieving the goal of 100% compliance by the year 2030.
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As indicated in the attached image, U.S. earnings for high- and low-skill workers as measured by educational attainment began diverging in the 1980s. The remaining questions in this problem set use the model for the labor market developed in class to walk through potential explanations for this trend.
1. Assume that there are just two types of workers, low- and high-skill. As a result, there are two labor markets: supply and demand for low-skill workers and supply and demand for high-skill workers. Using two carefully drawn labor-market figures, show that an increase in the demand for high skill workers can explain an increase in the relative wage of high-skill workers.
2. Using the same assumptions as in the previous question, use two carefully drawn labor-market figures to show that an increase in the supply of low-skill workers can explain an increase in the relative wage of high-skill workers.
Chapter 5 Solutions
International Business: Competing in the Global Marketplace
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