As the information technology advances and consumers buy products requiring more and more technology, the wages of people with high level programming and other technical skills would
Ans: increase as the demand for high tech skills increases.
Increases because the consumers are buying these goods which increases their price, this causes the demand for labor with such skills to increase (third option)
You might also like to view...
Which of the following is not assumed before the implementation of a policy? a. The appropriate policy is selected instantaneously
b. The appropriate policy is implemented instantaneously. c. Once implemented, the policy works as advertised. d. The policy, once implemented, works in no time. e. Lags that reduce the effectiveness of the policy are predictable.
Define the following terms and explain their importance to the study of economics: a. regressive tax b. proportional tax c. progressive tax d. direct tax e. indirect tax
What will be an ideal response?
Compounding refers to the
A. process of earning interest on both the principal and the interest of an investment. B. internal rate of return a firm earns on an investment. C. real interest return after taxes. D. calculation of after tax interest returns.
The fraction of a change in income that is spent on consumption is known as _____
Fill in the blank(s) with the appropriate word(s).