Use very short arguments to describe the following possibilities. You may put in a diagram and/or a simple example to illustrate your argument.

(a) Over the course of economic development, the pay ratios of skilled to unskilled labor rise and then fall.

(b) Studies of different countries over the cross section show an inverted-U relationship in inequality.

(c) An increase in inequality may lower growth rates.

(d) In economies where people have restricted access to capital markets, an increase in inequality is likely to lower equilibrium wage rates.