In recent years,the increasing relative wage of skilled labor has been mostly due to
A)a decrease in the supply of skilled labor that exceeds the decrease in demand.
B)an increase in the demand for skilled labor that exceeds the increase in supply.
C)a decrease in the supply of, and increase in the demand for, skilled labor.
D)government laws promoting the hiring of skilled labor.
E) government subsidies provided to college students.

Question

Quizplus · Accepted Answer

The increasing relative wage of skilled labor is primarily attributed to an increase in the demand for skilled labor that exceeds the increase in its supply. This demand is driven by technological advancements and globalization, which have amplified the need for skilled workers more than the supply has grown.

In Recent Years,the Increasing Relative Wage of Skilled Labor Has