A . Explain how a change in technology will affect labor productivity. b. Give an example of a change in technology that increased labor productivity
a . Technological progress will enhance labor productivity because it allows workers to produce more
goods in the same period of time.
b. Xerox machines and pages copied in an hour compared to typing and retyping copies.
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The Herfindahl-Hirschman Index measures an industry's concentration of
A) employment. B) sales. C) profits. D) productive capital.
For a demand curve that is horizontal, the marginal revenue curve
A) will be to the right of the demand curve and half as steep. B) will be to the left of the demand curve and half as steep. C) will be to the right of the demand curve and twice as steep. D) will be the same as the demand curve.
What are the major factors that determine investment, and what impact does each have on aggregate demand?
The cable and subscription TV business is plagued with the problem of "signal theft." People use illegal receivers to capture the company's signal without paying. Enforcement of the company's property right is very expensive. This problem emerges because TV signals are basically
a. economic goods. b. invisible goods. c. depletable goods. d. public goods.