In the United States between the 1970s and the 2000s, the productivity of labor increased. This increase led to
A) an increase in the demand for labor.
B) no change in either the demand for or the supply of labor.
C) a decrease in the supply of labor.
D) a downward shift of the production function.
E) an increase in the supply of labor.
A
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In one week, Tetah can knit 15 sweaters or bake 480 cookies. The opportunity cost per cookie for Tetah is
a. $15 b. 15 sweaters c. 32 sweaters d. 1/32 of a sweater e. 480 sweaters
Suppose only 7 percent of Turkey's products go to the United States. Hence, an increase in U.S. imports from Turkey:
a. would have no significant effect on Turkey's domestic income. b. would significantly increase Turkey's domestic income. c. would significantly decrease Turkey's domestic income. d. would significantly increase U.S. domestic income. e. would significantly decrease U.S. domestic income.
The monetary policy decisions made by the Federal Reserve must be approved by the Congress before they are enacted
a. True b. False Indicate whether the statement is true or false
Journey Motorcycles produced 100 motorcycles using 50 workers who each worked 8 hours a day. Journey's productivity was 1/4
a. True b. False Indicate whether the statement is true or false