Differentiate between idea and objects.

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Answer 1

Question

Chapter 6, Problem 1RQ

To determine

Differentiate between idea and objects.

Expert Solution & Answer

Explanation of Solution

There are many differences between idea and object. That is, idea is what a person feels or thinks in his mind, which turns into an action. Suppose, when a person reads a novel, he can imagine the story in his mind; this implies the idea about the story in his mind. On the other hand, if one thinks about a story in his mind and pours it in to a novel, here, his idea turns in to an action. Here, it can be understood that the idea is what that is turned into an action. Also, the book he uses to pour his idea is the objective, which means that an idea will create an object or use objects for innovation.

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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.

Answer 2

Question

Chapter 6, Problem 1RQ

To determine

Differentiate between idea and objects.

Expert Solution & Answer

Explanation of Solution

There are many differences between idea and object. That is, idea is what a person feels or thinks in his mind, which turns into an action. Suppose, when a person reads a novel, he can imagine the story in his mind; this implies the idea about the story in his mind. On the other hand, if one thinks about a story in his mind and pours it in to a novel, here, his idea turns in to an action. Here, it can be understood that the idea is what that is turned into an action. Also, the book he uses to pour his idea is the objective, which means that an idea will create an object or use objects for innovation.

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Answer 3

Question

Chapter 6, Problem 1RQ

To determine

Differentiate between idea and objects.

Expert Solution & Answer

Explanation of Solution

There are many differences between idea and object. That is, idea is what a person feels or thinks in his mind, which turns into an action. Suppose, when a person reads a novel, he can imagine the story in his mind; this implies the idea about the story in his mind. On the other hand, if one thinks about a story in his mind and pours it in to a novel, here, his idea turns in to an action. Here, it can be understood that the idea is what that is turned into an action. Also, the book he uses to pour his idea is the objective, which means that an idea will create an object or use objects for innovation.

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Answer 4

Question

Chapter 6, Problem 1RQ

To determine

Differentiate between idea and objects.

Expert Solution & Answer

Explanation of Solution

There are many differences between idea and object. That is, idea is what a person feels or thinks in his mind, which turns into an action. Suppose, when a person reads a novel, he can imagine the story in his mind; this implies the idea about the story in his mind. On the other hand, if one thinks about a story in his mind and pours it in to a novel, here, his idea turns in to an action. Here, it can be understood that the idea is what that is turned into an action. Also, the book he uses to pour his idea is the objective, which means that an idea will create an object or use objects for innovation.

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Answer 5

Chapter 6, Problem 1RQ

To determine

Differentiate between idea and objects.

Expert Solution & Answer

Explanation of Solution

There are many differences between idea and object. That is, idea is what a person feels or thinks in his mind, which turns into an action. Suppose, when a person reads a novel, he can imagine the story in his mind; this implies the idea about the story in his mind. On the other hand, if one thinks about a story in his mind and pours it in to a novel, here, his idea turns in to an action. Here, it can be understood that the idea is what that is turned into an action. Also, the book he uses to pour his idea is the objective, which means that an idea will create an object or use objects for innovation.

Answer 6

Chapter 6, Problem 1RQ

To determine

Differentiate between idea and objects.

Expert Solution & Answer

Explanation of Solution

There are many differences between idea and object. That is, idea is what a person feels or thinks in his mind, which turns into an action. Suppose, when a person reads a novel, he can imagine the story in his mind; this implies the idea about the story in his mind. On the other hand, if one thinks about a story in his mind and pours it in to a novel, here, his idea turns in to an action. Here, it can be understood that the idea is what that is turned into an action. Also, the book he uses to pour his idea is the objective, which means that an idea will create an object or use objects for innovation.

Answer 7

Chapter 6, Problem 1RQ

To determine

Differentiate between idea and objects.

Answer 8

Expert Solution & Answer

Explanation of Solution

There are many differences between idea and object. That is, idea is what a person feels or thinks in his mind, which turns into an action. Suppose, when a person reads a novel, he can imagine the story in his mind; this implies the idea about the story in his mind. On the other hand, if one thinks about a story in his mind and pours it in to a novel, here, his idea turns in to an action. Here, it can be understood that the idea is what that is turned into an action. Also, the book he uses to pour his idea is the objective, which means that an idea will create an object or use objects for innovation.