Labor-augmenting technological change refers to improvements in efficiency that
A) occur without increasing the productivity of labor or the efficiency of capital goods.
B) increase the productivity of labor and the efficiency of capital goods.
C) increase the efficiency of capital goods without having to increase the productivity of labor.
D) increase the productivity of labor but that do not directly make capital goods more efficient.
D
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Banks may hold the reserves for their customers' deposits as
A. cash in their bank vaults only. B. deposits at the Fed only. C. either cash in their vaults or their deposits at the Fed. D. Federal Reserve Notes.
The emergence of the subprime mortgage market following the recession of 2001 made it increasingly difficult for low-income individuals to obtain a mortgage
a. True b. False Indicate whether the statement is true or false
Which of the following is true?
a. Employers who discriminate against women will have lower costs than rival firms that hire employees strictly on the basis of merit (productivity). b. If employers can hire equally productive female employees at a lower wage than males, the profit motive gives them a strong incentive to do so. c. The female/male earnings ratio is higher for persons who are married than for those who remain single. d. Both a and c are true.
Both collusive and noncollusive oligopoly models suggest that price changes will be relatively infrequent in these types of industries.
Answer the following statement true (T) or false (F)