In a Competitive Industry, Output Is Produced with Skilled and Unskilled

question 5

Multiple Choice

In a competitive industry, output is produced with skilled and unskilled labor. Factor-biased technical change that increases the productivity of skilled labor, will, at a given ratio of skilled to unskilled labor, shift any given isoproduct curve ________ the origin and ________ the absolute slope of the isoproduct curve (when the number of skilled labor is along the horizontal axis) . Pick the best pair of answers

• A) towards, steeper
• B) towards, flatter
• C) away from, steeper
• D) away from, steeper.

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Definitions:

Glass Cliff

A phenomenon where women or minority group members are more likely to be promoted to leadership positions during times of crisis or organizational instability, which may set them up for failure.

Leadership Positions

Roles or titles within an organization that entail guiding, directing, or influencing others.

Women

Female humans; also refers to issues, concepts, and perspectives related to femininity or the female gender.

Uncertainty Avoidance

A cultural dimension that describes the degree to which societies are willing to tolerate uncertainty and ambiguity.