What are examples of the fastest growing occupations in percentage terms expected to be from 2010–2020? What economic principle of resource pricing best explains these trends?
What will be an ideal response?
In percentage terms, the fastest growing occupations are in the health, computer, and financial fields: (1) personal care aides; (2) home health aides; (3) biomedical engineers; (4) masonry helpers; (5) carpentry helpers; (6) veterinary technologists and technicians; (7) iron and rebar workers; (8) physical therapist assistants; (9) piping and plumbing helpers; and (10) meeting, convention, and event planners. The increases in these occupations are largely explained by the relatively large increases in labor demand for these types of workers. The increase in the demand for health care and information technology has increased the demand for workers. Several factors underlying the demand for these workers explain this increase in demand. First, the price or value of products produced by these types of workers has increased as people seek better health care, fitness, or new technology. Second, new technology improves the productivity of other workers, which increases the demand for health care and computer equipment and their associated workers. Third, there has been a significant decline in the price of computers and technological resources, which has lowered the cost of producing products (including financial exams) and increased the demand for this equipment and its workers because of output effects.
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The largest component of GDP is:
A. personal consumption expenditures. B. government spending. C. durable goods. D. net exports.
Which was NOT an argument of the protesters against the IMF, WTO, and the World Bank?
A. We are exploiting factory workers in poor countries. B. Our subsidized grain exports sold below cost in poor countries, driving local farmers out of business. C. Globalization is hurting the American standard of living. D. Globalization is lowering American wages and exporting high paying jobs.
Land, water, metals, and minerals are considered to be
a. non-scarce resources because they are "gifts of nature" b. free resources because they are "gifts of nature" c. manufactured resources because no resource is useable without labor d. natural resources that are "gifts of nature" e. renewable resources that are "gifts of nature"
A U.S. citizen's gift for famine relief in Somalia would be considered a:
A. capital inflow. B. capital outflow. C. current account transaction. D. service trade transaction.