In an indifference curve/budget line diagram, a consumer's equilibrium consumption combination will occur
A) inside the budget line.
B) outside the budget line.
C) on the budget line.
D) at the origin.
Question 2
Information technologies ________ the demand for low-skilled labor, increase the ________ high-skilled labor, lower the wage rate of ________ labor, and raise the wage rate of ________ labor.
A) decrease; demand for; low-skilled; high-skilled
B) decrease; supply of; low-skilled; high-skilled
C) do not change; supply of; high-skilled; low-skilled
D) do not change; demand for; high-skilled; low-skilled
