In $2004,$ The New York Times reported that India might be losing its

outsourcing edge due to rising wages $[1]$ The reporter noted that a recent report

$$projected that if India continued to produce college graduates at the current rate,

demand would exceed supply by $20\%$ in the main outsourcing markets by $2008.$

Using the terminology you learned in this chapter, explain what he meant to say was

happening in the market for Indian workers in outsourcing jobs. In particular, is

demand for Indian workers increasing or decreasing? Is the supply of Indian workers

increasing or decreasing? Which is shifting faster? How do you know?