Holding other factors constant, technological progress ________ the real wage and ________ employment.

A. increases; increases
B. decreases; increases
C. increases; does not change
D. increases; decreases


Answer: A

Economics

You might also like to view...

If the interest rate falls, the present value of $100 to be received in one year

A) rises. B) falls. C) is unaffected. D) might rise, fall, or not change.

Economics

Using the above table, a unit tax of $2 is imposed on the product. The equilibrium price of this product after the tax is imposed is

A) $5. B) $4. C) $3. D) $2.

Economics

The accompanying table describes the relationship between the number of workers hired by a call center each hour and the number of calls the call center can make each hour. The call center has only 1 telephone. The telephone costs the firm $5/hour (regardless of how many calls are made), and each worker is paid $10 per hour.Calls Per HourNumber of Telephones Per HourNumber of Workers Per Hour11221461616182211024112 If the price of a telephone increases to from $5 to $10 an hour and nothing else changes, then:

A. marginal cost would not change. B. total cost would not change. C. marginal cost would increase by $5 at every level of output. D. average total cost would increase by $5 at every level of output.

Economics

Refer to Figure 19.2. Diminishing marginal utility begins after

A. The third apple. B. The fourth apple. C. The first apple. D. The fifth apple.

Economics