Skill-biased technical change is:
A. economic growth that derives from, and therefore benefits disproportionally, the highly-skilled, highly educated workers in a society.
B. the changing makeup of workforces in countries with large amounts of technology.
C. the change in technology that has caused many jobs to shift away from the service sector to the technology sector.
D. None of these is true.
Answer: A
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As output increases, average fixed cost gets smaller and smaller
Indicate whether the statement is true or false
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