Section A - Compulsory Multiple Choices = [ 20 marks] 1. What does it mean for the Pacific economy to have a positively skewed wage distribution? A. Most workers earn below the average wage B. A large proportion of workers earn very high wages C. The average wages equals the median wages D. The distribution of wages is symmetric around the mean E. The mean wage equals the median wages 2. Wage differentials across individual workers are determined in part by A. Effort B. Productivity C. Social capital D. Luck E. All of the above 3. The positive correlation between ability and human capital investment stretches out wages in the population generating what? A. A positively skewed wage distribution B. A negatively skewed wade distribution C. An inconsistent wage distribution D. A uniform wage distribution E. A symmetric wage distribution 4. The earning distribution refers to the distribution of wages A. Wages or earning in an economy B. Earning over an individuals life C. Wages between races D. Wages between genders E. Wages offer throughout an economy