Technological changes that increase the productivity of skilled workers relative to that of unskilled workers are referred to as:
A) skill-biased technological changes.
B) labor-saving technological changes.
C) unskilled-biased technological changes.
D) labor-complementary technological changes.
A
Economics
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Consumer surplus in a market for a product would be equal to the area under the demand curve if
A) producer surplus was equal to zero. B) marginal cost was equal to the market price. C) the product was produced in a perfectly competitive market. D) the market price was zero.
Economics
If a firm can sell 3,000 units of product A at $10 per unit and 5,000 at $8, then
A) the price elasticity of demand is 0.44. B) A is a complementary good. C) the price elasticity of demand is D) A is an inferior good.
Economics