An Example of Technological Change Is _____

question 29

Multiple Choice

An example of technological change is _____

• A) firms substituting labor for capital.
• B) robots displacing workers.
• C) hiring more wait staff in a busy restaurant.
• D) teaching materials in a class instead of online.
• E) higher costs of manufacturing labor.

Identify and explain different forms of labor market discrimination.

Understand the role of minimum wage laws and their impact on the labor market.

Describe how wage differences among workers can be explained by various factors including human capital, discrimination, and unions.

Evaluate the concepts of compensating differentials and compensating variation.

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Definitions:

Wilcoxon Rank Sum Test

The Wilcoxon Rank Sum Test is a nonparametric statistical test used to compare two independent samples, assessing whether their populations have the same distribution.

Chi-Squared Distribution

A statistical distribution used in hypothesis testing that is the distribution of a sum of the squares of k independent standard normal random variables.

9-point Scale

A scale often used in surveys and research to rate or assess opinions, attitudes, or behaviors, where 1 typically indicates the lowest extent and 9 the highest.

Significance Level

The probability of erroneously rejecting the true null hypothesis in statistical testing, often denoted by alpha.