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Wage Inequality in the U.S

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Many believe that wage inequality in the U.S. will generate shifts in labor markets such that the gap between the most highly skilled in the population and the least skilled will begin to fall in the near future. Explain the theoretical reasons for the claim.

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Solution Summary

The effects of wage inequality in the U.S. are summarized.

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Let us first consider jobs where the wages are very high now. Since these jobs are very attractive the new generation students will train themselves to enter into the job market for these jobs. Say they will acquire educational qualification required for these jobs, ...

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