A new technology that increases the productivity of teachers has what effect on the labor market for teachers?
a. The wage rate will rise, and quantity of teachers employed will fall.
b. The wage rate will rise, and quantity of teachers employed will rise.
c. The wage rate will fall, and quantity of teachers employed will fall.
d. The wage rate will fall, and quantity of teachers employed will rise.
e. There is not enough information to determine what effects there are, if any.
B
You might also like to view...
Use the following graph (where L is the quantity of labor) to answer the next question.
It shows a firm that buys its inputs and sells its output in competitive markets. If the firm develops a new technology that increases labor productivity, the equilibrium level of employment for this firm is expected to be
A. higher than L0. B. L0. C. lower than L0. D. zero.
Suppose a new EU member begins substituting its imports from non-EU members to other EU members. This is an example of
A) trade diversion. B) trade deflection. C) free trade. D) trade detection.
Which of the following statements pertains to macroeconomics?
A. Because the minimum wage was raised, Mrs. Olsen decided to enter the labor force. B. A decline in the price of soybeans caused farmer Wanek to plant more land in wheat. C. National income grew by 2.7 percent last year. D. The Pumpkin Center State Bank increased its interest rate on consumer loans by 1 percentage point.
The consumer wifi-service providers' market is best described as a:
A. Monopolistic competition B. Monopoly C. Differentiated oligopoly D. Homogeneous oligopoly