How are skilled and unskilled workers in an economy likely to be affected if firms adopt skill-biased technologies?

What will be an ideal response?

A skill-biased technology change increases the productivity of skilled workers relative to that of unskilled workers. This increases the marginal productivity of skilled workers, causing the demand for their labor and their wages to increase. Conversely, such technology decreases the labor demand for unskilled workers and lowers their wages.

Economics

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The organized labor movement was held back by the law of conspiracy

Indicate whether the statement is true or false

Economics

Determinants of income differences include all of the following EXCEPT

A) age. B) marginal productivity. C) moral hazard. D) discrimination.

Economics