Improved technology is likely to
A. reduce productivity.
B. increase the marginal product of labor.
C. displace workers, causing high unemployment.
D. reduce wages.
Answer: B
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In the figure below, draw a short-run Phillips curve and a long-run Phillips curve if the expected inflation rate is 4 percent and the natural unemployment rate is 6 percent
Explain how the two change in the short run if: a. slower growth in aggregate demand causes a recession. b. the inflation rate increases. c. the natural unemployment rate increases.
Well-functioning financial markets
A) cause inflation. B) eliminate the need for indirect finance. C) cause financial crises. D) allow the economy to operate more efficiently.
Marginal profit is the profit
A. earned by a firm that is about to go out of business. B. calculated directly from the total cost curve. C. that is added by a one-unit increase in total output. D. earned for each dollar of cost increase.
Chinese private companies get their capital largely from:
a. The Whenzou market b. Private banks c. IPOs d. State banks e. Government grants