The Skill-Biased Character of Technological Change in Recent Decades Has

question 59

Multiple Choice

The skill-biased character of technological change in recent decades has tended to cause ________.

• A)a decrease in the demand for college-educated labor
• B)a higher rate of unemployment among college-educated labor
• C)a lower rate of unemployment among unskilled labor
• D)an increase in demand for college-educated labor

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Definitions:

Downward Slope

A graphical representation indicating a decrease or decline in a variable as another variable increases, often seen in demand curves.

Production Possibility Frontier

An illustration representing the highest potential outputs for multiple goods using specific resources.

Economy Grows

The increase in the production of goods and services over a period, indicating economic health.

Outward Shift

A term often used in economics to describe a situation where a curve, such as the supply or demand curve, moves away from the origin, indicating an increase in supply or demand.