If producers who hire labor in a competitive labor market decide to purchase the new automated machine that completes the work of 30 employees, we would expect the:
A. labor-supply curve in that market to shift left.
B. labor-demand curve in that market to shift left.
C. labor-supply curve in that market to shift right.
D. labor-demand curve in that market to shift right.
B. labor-demand curve in that market to shift left.
You might also like to view...
Which of the following is included in personal income but not in national income?
a. compensation for workers b. proprietors' income c. corporate profits d. Social Security payments e. rent
A census area that has a poverty rate of 40 percent or greater and is associated with increased crime, poorer health outcomes, failing schools, and decreased employment opportunities is known as:
a) decentralized poverty. b) an urban area. c) a rural area. d) concentrated poverty.
The impact of economic growth on a country's willingness to trade is determined solely by the extent of the shift of its production-possibility curve.
Answer the following statement true (T) or false (F)
Property and casualty insurers will hold assets of shorter maturities than life insurance companies because:
A. life insurance companies may find they need to get liquid unexpectedly. B. life insurance companies generally take on more risk than property and casualty companies. C. property and casualty insurers can find themselves needing to get liquid unexpectedly. D. shorter maturity assets usually have higher returns.