The Skilled-Bias Technological Change Means That

question 55

Multiple Choice

The skilled-bias technological change means that

• A)the recent technological change has raised the productivity of highly trained or educated workers more than that of the less skilled.
• B)the recent technological change has raised the real wage of highly trained or educated workers more than that of the less skilled.
• C)the recent technological change has raised the real wage of women more than that of men.
• D)all of the above.

---

Definitions:

Unemployment

Unemployment refers to the situation when individuals who are capable of working and are actively seeking employment are unable to find a job.

Financial Crisis

A situation where financial assets suddenly lose a large part of their nominal value, often leading to bankruptcies and economic downturns.

Phillips Curve

An economic concept illustrating an inverse relationship between the level of unemployment and the rate of inflation.

Inflation Rate

The percentage rate of increase in price levels over time, which can erode purchasing power.