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Technological Changes That Increase the Productivity of Skilled Workers Relative

question 95

Multiple Choice

Technological changes that increase the productivity of skilled workers relative to that of unskilled workers are referred to as ________ technological changes.


Definitions:

Percentage Cost

This refers to the cost expressed as a percentage of the total amount or value involved.

Production Output

The total quantity of goods and services produced in a given time period by a firm or country.

Cash Sales Policy

A cash sales policy is a business approach where transactions are conducted strictly on a cash basis, without offering credit to customers.

Discount Period

The discount period is the time frame in which a payment can be made at a discounted rate from the regular price or before it becomes due.

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