What has happened to the wages of high-skilled labor relative to that of low-skilled labor since 1980?
A) Wages of high-skilled labor relative to that of low-skilled labor have fallen.
B) Wages of high-skilled labor have increased faster than wages of low-skilled labor.
C) Wages of high-skilled workers have stagnated while wages of low-skilled workers have risen.
D) Wages of high-skilled and low-skilled labor have increased at the same rate, thus leaving the relative wage unchanged.

Question

Quizplus · Accepted Answer

Since 1980, the wages of high-skilled labor have increased faster than wages of low-skilled labor. This trend is partly due to technological advancements and globalization, which have increased demand for high-skilled jobs and decreased demand for low-skilled jobs. This has led to a widening wage gap between high and low-skilled workers.

What Has Happened to the Wages of High-Skilled Labor Relative