Many economies include Canada experienced skill-biased technological change. The neoclassical theoryof distribution predicts skill-biased technological change (Select]the demand forhigh-skilled workers. However, a slowdown in the pace of educational advancement reduces the supplyof skilled workers. If we observed both phenomena simultaneously, we would expect[ Select]real wages for skilled workers.

Skill biased technological change means a change in technology used in industry that favour skilled…

Answered: Many economies include Canada…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter26: The Neoclassical Perspective

Section: Chapter Questions

Problem 19CTQ: Economists from all theoretical persuasions criticized the American Recovery and Reinvestment Act....

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