In the United States between the 1970s and the 2000s, the productivity of labor increased. This increase led to
A) an increase in the demand for labor.
B) no change in either the demand for or the supply of labor.
C) a decrease in the supply of labor.
D) a downward shift of the production function.
E) an increase in the supply of labor.
A
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Historically, predictions of scarcity have been proven wrong because
a. the world population has unexpectedly decreased. b. modern humans survive on much less food than those of past eras. c. developed nations have consistently come to the aid of undeveloped nations. d. agricultural and economic productivity have kept up with population growth.
An increase in the quantity of money supplied shifts the money supply curve to the ________, and the equilibrium interest rate ________, everything else held constant
A) right; falls B) right; rises C) left; falls D) left; rises