An increase in the productivity of labour with college, trades and university qualifications, ceteris paribus, induces

a.an increase in the cost of labour.

b.firms to offer a higher wage for workers since the workers are now more productive.

c.firms to hire fewer workers since fewer workers are needed with the increase in productivity.

d.an increase in the demand for labour.

Higher wages for college graduates than for high school graduates can be explained, in part, by

a.outside scoping.

b.labour market signaling.

c.complementary thinking.

d.relative pricing.

Suppose firms in an industry employ both unskilled and skilled labour. Unskilled labour is a substitute for capital and skilled labour is a complement with capital. A fall in the price of capital, ceteris paribus, would

a.cause the demand for unskilled labour to increase and the demand for skilled labour to decrease, with the wage of unskilled labour rising relative to the wage of skilled labour.

b.cause the demand for both kinds of labour to decrease, with the wages rates of both kinds of labour decreasing.

c.cause the demand for labour to increase, raising wages of both skilled and unskilled labour.

d.cause the demand for unskilled labour to decrease and the demand for skilled labour to increase, with the wage of unskilled labour decreasing relative to the wage of skilled labour

When a monopsony pays workers a wage that is less their respective marginal revenue product we call this

a.monopsonistic exploitation.

b.monopsony labour rule.

c.union derived.

d.equivalent monopsony