Suppose home builders figure out how to produce houses faster by pre-fabricating more of the house in a factory, then transporting the components to the construction site. This saves labor time and prevents materials from being wasted. Which type of innovation is this?
A. Basic research
B. A productivity-enhancing innovation
C. A quality-of-life innovation
D. The creation of new goods and services
Answer: B
You might also like to view...
When price is below the equilibrium level, there is a shortage of the commodity being sold.
Answer the following statement true (T) or false (F)
A perfect price discriminating monopoly produces the same quantity of output as a ________
A) single-price monopoly but charges a higher price B) perfectly competitive market C) perfectly competitive firm D) perfectly competitive market but charges a lower price
Refer to Figure 8.5. Equilibrium in this market is represented by a real wage of ________ and quantity of labor ________
A) w1; L1 B) w1; L2 C) w2; L1 D) w2; L3
Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. 
Figure 19.1 Refer to Figure 19.1. The ________ from this payroll tax are $3,500.
A. total cost to employers B. total cost to workers C. total wage saving D. total tax collections