See the problem below:

Problem 4: During the housing boom in the 2000s, the price of financial services in the U.S. soared. Assume that the financial service sector, Y, is more executive-intensive than all other sectors, X. Discuss in detail the effects of the increase in the price of financial services relative to the price of all other goods and services on i) the gap between the executive wage and ii) the average wage of non-executives in the U.S., and iii) the allocation of resources across sectors. a) Explain whether or not executives employed in sector Y benefited from this change in output prices of financial services. b) Explain whether or not executives employed in sector X benefited from this change in output prices of financial services. c) Explain whether or not non-executive workers benefited