To reduce labor costs, companies often invent machines and methods to produce products and reduce the amount of labor required. This is called
A) anti-union. B) downsizing.
C) failed labor utilization. D) induced innovation.
D
You might also like to view...
Discuss three ways in which U.S. banks can become involved in international banking
What will be an ideal response?
The Fed pledged to continue QE3 until:
A) inflation got out of control B) real GDP and employment returned to more normal levels C) the financial crisis was over D) it was time to begin QE4
Which of the following is NOT related to the slope of isoquants?
A) The fact that inputs have positive marginal product B) The fact that inputs have diminishing marginal product C) The fact that input prices are positive D) The fact that more of either input increases output E) The fact that there are diminishing returns to inputs
Johnny spends his day doing a variety of activities; he spends the morning exercising and doing yard work, reads in the afternoon, and hosts a dinner party in the evening. Economists would say his choice to do a variety of activities instead of spending all of his time on one activity illustrates the concept of:
A. tastes and preferences B. budget constraints C. diminishing marginal utility D. income effect