Suppose That a Burst of Technological Advancement and Innovation Occurs

question 46

Essay

Suppose that a burst of technological advancement and innovation occurs that increases the demand for highly skilled labor.Use demand/supply analysis to analyze the effect of the technological change on the equilibrium wage and equilibrium employment levels for high skill workers.

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Definitions:

Dendrites

Branches of a neuron that receive and conduct nerve impulses toward the cell body. Compare with axon.

Axons

Long, threadlike extensions of neurons that transmit electrical impulses away from the neuron's cell body to other neurons, muscles, or glands.

Protoplasmic Protrusions

Extensions of the cell body, such as pseudopodia, used for movement and feeding in some unicellular organisms.

Scientific Theory

In science, a widely accepted explanation supported by a large body of observations and experiments. A scientific theory relates facts that appear unrelated; it predicts new facts and suggests new relationships. Compare with hypothesis.