Ben was a bank teller at Goliath National Bank, until the tellers at Goliath were replaced by ATM machines. As a result, Ben decided to go back to school and update his computer skills. Ben's scenario best represents a consequence of __________.

Question

Quizplus · Accepted Answer

The replacement of bank tellers by ATM machines reflects the phenomenon of skill-biased technological change, where technological advancements lead to a higher demand for skilled workers and lower demand for unskilled workers. Ben's decision to update his computer skills reflects the need to acquire new skills to meet the changing demands of the labor market.

Ben Was a Bank Teller at Goliath National Bank, Until