Many economists believe that skill-biased technical change has increased the incomes of highly skilled workers and decreased the incomes of low-skill workers.

Question

Quizplus · Accepted Answer

Skill-biased technical change refers to technological advances that require and reward higher levels of skill and education. This has led to an increase in the demand and wages for skilled workers, while the demand and wages for low-skill workers have decreased. This is a well-established phenomenon supported by a large body of empirical evidence.

Many Economists Believe That Skill-Biased Technical Change Has Increased the Incomes