The owner of a firm wants some advice on how to increase productivity. Suggest three ways the entrepreneur could increase labor productivity through improving technology
What will be an ideal response?
There are three main ways to improve technology. First, the entrepreneur could install the most up-to-date equipment and machinery. Second the owner could implement an on-the-job training program to improve the skills of his workers. He could even send a few of his workers to college. Finally, the owner could develop better means of organizing and managing the production process.
You might also like to view...
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
The ability of factors to migrate abroad
A) reduces the severity of unemployment and the fall in the rate of return available to investors. B) increases the severity of unemployment and the fall in the rate of return available to investors. C) reduces the severity of unemployment but increases the fall in the rate of return available to investors. D) cannot change the severity of unemployment and the constant rate of return available to investors. E) reduces the migration of highly-skilled workers.
Which of the following questions is of most interest for MACROECONOMISTS?
A) Why is there inflation? B) Why does the steel industry want tariffs? C) What is the appropriate stance of antitrust policy? D) Why do foreigners immigrate to the United States?
45° line diagrams show how
a. investment varies with income. b. expenditures vary with income. c. investment spending rises when GDP rises. d. GDP is affected by government purchases.