An Increase in Demand for Highly Skilled Workers Is a Result

question 41

Multiple Choice

An increase in demand for highly skilled workers is a result of:

• A) increases in labor cost.
• B) advancements in technology.
• C) a higher minimum wage.
• D) increases in international trade.

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Definitions:

Curve Shift

A movement of the supply or demand curve to the left or right, indicating a change in the market conditions.

Movement Along

Changes in the quantity demanded or supplied resulting from a change in price, illustrated by a movement along a demand or supply curve.

Policy Fairness

The extent to which a policy is considered just, equitable, and unbiased towards individuals or groups affected by it.

Model Assumptions

Fundamental suppositions upon which economic models and theories are based to simplify reality and facilitate analysis.