An increase in labor productivity
A) increases the standard of living.
B) might be the result of an increase in the quantity of labor.
C) generally occurs when physical capital decreases because firms must then hire more workers.
D) cannot occur without a corresponding increase in employment.
E) decreases the standard of living.
A
You might also like to view...
Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 0d and that it is 0u in country B.) Domestic output in country B will, after the emigration of labor:
A. Increase by area qrs
B. Increase by area qtus
C. Decrease by area qrs
D. Decrease by area qtus
Which of the following is a short-run adjustment?
a. Toyota builds an automobile plant in Kentucky. b. Faced with increasing enrollment, a private college builds a new School of Business building. c. Because of staggering losses, three insurance companies exit the industry. d. People's Bank hires two new tellers to meet increased demand for customer services. e. Shaveco enters the razor blade market with a new product, produced in the United States.
Compared with a perfectly competitive firm in long-run equilibrium, a monopolistically competitive firm will operate on the upward-sloping portion of the average-total-cost curve
a. True b. False Indicate whether the statement is true or false
Ginger bought a phone that came with a $10 rebate. Ginger should fill out and mail in the rebate form if:
A. the opportunity cost of the time and trouble of sending in the rebate form is less than $10. B. Ginger's surplus from purchasing the phone was less than $10. C. she would have bought the phone without the rebate, and so sending in the rebate form involves no opportunity cost. D. the opportunity cost of the time and trouble of sending in the rebate form is more than $10.