An advance in technology that increases productivity and an increase in the working-age population results in a
A) rightward shift of the labor supply curve.
B) rightward shift of the labor demand curve.
C) rightward shift of the labor demand curve and of the labor supply curve.
D) no change to the production function.
C
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Over the past several decades, what has been true about inflation in the United States?
A) Inflation has been very stable. B) The nation has experienced persistent deflation. C) Inflation rates have been consistently negative. D) Inflation rates have been consistently positive.
Suppose that your marginal federal income tax rate is 30%, the sum of your marginal state and local tax rates is 5%, and the yield on thirty-year U.S. Treasury bonds is 10%
You would be indifferent between buying a thirty-year Treasury bond and buying a thirty-year municipal bond issued within your state (ignoring differences in liquidity, risk, and costs of information) if the municipal bond has a yield of A) 6.5%. B) 7.0%. C) 9.5%. D) 10.0%.
In a market operating along the production possibilities curve, which of the following is inevitable if the production of one of the goods is increased?
a. inefficiency b. labor shortage c. unemployed resources d. less of other goods must be produced
Economists assume that individuals consume products to:
a. minimize cost. b. maximize total utility. c. maximize consumption. d. minimize marginal utility.