Automated production methods are only attractive when they
a. reduce labor productivity.
b. replace workers.
c. decrease per-unit costs of production.
d. lower wages.
C
You might also like to view...
The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
The marginal physical product is the
A. Change in total input required to produce one additional unit of output. B. Number of units of output obtained from all units of input employed. C. Additional cost of an additional unit of output. D. Change in total output associated with one additional unit of input.
Applying for a loan in five-person groups is an example of:
A. trade-off. B. group responsibility. C. party of five lending. D. family and friends lending.
Country A can produce both wheat and oranges using fewer resources than country B. Which of the following statements is true?
A. Country A has a comparative advantage in producing both goods. B. Country A has an absolute advantage in producing both goods. C. Country B has no comparative advantage. D. Country B must have an absolute advantage in producing one of the goods.