The introduction of a new technology that increases the productivity of labor will:
A. increase the supply of labor.
B. increase the demand for labor.
C. decrease the demand for labor
D. decrease the supply of labor.
Answer: B
You might also like to view...
When the government's outlays exceed its tax revenue, the national debt
A) shrinks thanks to the budget surplus. B) grows to finance the budget deficit. C) shrinks thanks to the budget deficit. D) grows to finance the budget surplus. E) does not change because it has nothing to do with government outlays and tax revenue.
Suppose a monopolist sells 10,000 units of output at $22 per unit. The firm's total revenue is
A) $2,200. B) $22,000. C) $220,000. D) $2,200,000.
Suppose Ford, GM, and Chrysler produce all the pick-up trucks in the United States. If they all are priced at $30,000 and Ford introduces a $5,000 rebate, what can Ford expect to see?
a. GM and Chrysler go out of business b. an immediate rebate or price-cut response by GM and Chrysler c. a long-run shift of industry profit from GM and Chrysler to Ford d. an unprecedented increase in Ford truck sales in the long-run e. an increase in GM and Chrysler production to compensate for loss of profit
If the U.S. government determines that the cost of feeding an urban family of four is $5,200 per year, then the official poverty line for a family of that type is
a. $10,400. b. $15,600. c. $20,800. d. $26,000.