Suppose that the introduction of computers increases the productivity of workers in the developed world. What you would expect wages to do?
a. Rise mainly in the developed countries.
b. Rise mainly in the developing countries.
c. Fall mainly in the developed countries.
d. Fall mainly in the developing countries.
Ans: a. Rise mainly in the developed countries.
Economics
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A monopsony pays a wage rate that is
A) greater than value of marginal product. B) equal to the marginal cost of labor. C) less than value of marginal product. D) unacceptable to the workers hired.
Economics
Think of at least nine examples, three of each, that display a positive, negative, or no correlation between two economic variables. In each of the positive and negative examples, indicate whether or not you expect the correlation to be strong or weak
What will be an ideal response?
Economics