Which of the following could explain why wages for certain trades such as welding and plumbing have increased over the last 10 years?
A- The age of our population leads to a relatively high quantity of labor supplied at any given wage.
B- The training and certifications required for these professions lead to a relatively high quantity of labor supplied at any given wage.
C- The movement toward college prep programs in high school and away from skilled labor have lead to a shortage of skilled laborers in these professions, driving wages higher.
D- Unskilled labor is cheaper to hire than skilled labor leading to higher wages for professionals such as doctors and lawyers.
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C- The movement toward college prep programs in high school and away from skilled labor have lead to a shortage of skilled laborers in these professions, driving wages higher.
1 answer