Increased Outsourcing Has Made Nonroutine Skills Less Marketable

question 77

True/False

Increased outsourcing has made nonroutine skills less marketable.

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Definitions:

Supply of Loanable Funds

The supply of loanable funds is the total amount of capital available for borrowers to secure, typically originating from savings in the economy, and forming the basis for interest rates determination.

Interest Rate

The amount charged by lenders to borrowers for the use of money, expressed as a percentage of the principal, per period of time.

Human Capital

The economic value of a worker's experience and skills, including education, training, intelligence, skills, health, and other things employers value such as loyalty and punctuality.

Productivity

A measure of the efficiency of production that is often quantified as the ratio of output to inputs used in the production process, such as labor and capital.