In words, if unskilled labour becomes dearer, the demand for skilled labour increases, and similarly if skilled
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In words, if unskilled labour becomes dearer, the demand for skilled labour increases, and similarly if skilled labour becomes more expensive, the demand for unskilled labour increases. This is because the two factors can be used as substitutes in the production process.
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Related Book For 
Foundations Of Modern Macroeconomics
ISBN: 9781264857937
1st Edition
Authors: Ben J. Heijdra, Frederick Van Der Ploeg
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