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Economics
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2 Nov 2020

10. Over the last decade, revolutionary changes in technology, especially the growth of information and communication technology, have ____ the demand for high-skilled workers and ____ the demand for low-skilled workers.

a. increased; increased

b. increased; decreased

c. decreased; increased

d. decreased; decreased

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Microeconomics
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Evaluating the Government Policies to Reduce Income Inequality
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Raushan Raj
Raushan RajLv8
2 Nov 2020

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Related questions

Use the classical model to answer this question. Suppose technology improves and that workers are not the same (as opposed to what we discussed in class). Some are high skilled (like those with a college degree) and some are low skilled (like those with a high school degree). For the high skilled workers the new technology increases their marginal product of labor (because they know how to use the new technology) but for the low skilled workers the new technology does not affect their marginal product of labor. How does the improvement in technology influence the labor market?

18) Suppose we observe a rise in the price of good A and a decrease in the quantity of good A bought and sold. Which one of the following is a likely explanation? A) The supply of A increased. B) The law of supply is violated. C) The demand for A decreased. D) The demand for A increased. E) The supply of A decreased.

15) Suppose we observe a rise in the price of good A and a decrease in the quantity of good A bought and sold. Which one of the following is a likely explanation? A) The law of supply is violated. B) The demand for A decreased. C) The supply of A decreased. D) The demand for A increased. E) The supply of A increased.

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