Technological Change That Affects the Marginal Products of High-Skilled and Low-Skilled

question 86

Multiple Choice

Technological change that affects the marginal products of high-skilled and low-skilled workers differently is called ________ technological change.

• A)capital-labor
• B)skill-biased
• C)marginal-productivity
• D)high-low

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Definitions:

Operating Efficiency

A measure of how effectively a company uses its assets to generate revenue, often reflected in the ratio of operating income to total assets.

Full-Employment Economy

An economic condition in which virtually all who are able and willing to work are employed.

Network Structures

refer to the arrangement of connections and relationships between individuals, groups, or institutions, often used to describe organizational or social networks.

Delegation

The process of assigning responsibility and authority to subordinates to complete a task, while maintaining accountability for the outcome.