In Coming Years, High-Tech Growth Areas Such as Computers, Biotechnology

question 417

Multiple Choice

In coming years, high-tech growth areas such as computers, biotechnology, and robots are likely to experience a:

• A) surplus of labor.
• B) significant decline in market demand, leading to a stagnant labor market.
• C) shortage of skilled labor.
• D) stable equilibrium in the labor market.

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Definitions:

2008 Financial Crisis

A global financial downturn initiated by the collapse of the housing bubble in the United States, leading to widespread economic hardship.

Subprime Mortgages

Loans given to borrowers with lower credit scores at higher interest rates than standard mortgages, significantly contributing to the 2008 financial crisis.

Unemployment Rate

A measure of the percentage of the workforce that is jobless and actively looking for employment.

African-Americans

People of African descent living in the United States, historically subject to slavery and segregation, and now a vital part of the nation’s cultural and social fabric.