A country's labor demand curve shifted to the right after the adoption of a new technology. This implies that the use of the new technology ________, assuming all else equal
A) reduced the marginal product of labor
B) lowered the minimum wage that firms need to pay
C) increased the minimum wage that firms need to pay
D) increased the marginal product of labor
D
You might also like to view...
Suppose the price of a ticket to a Lenny Kravitz concert is $41 and at that price, the quantity of tickets demanded is 17,000 per concert
Using the midpoint method of calculating percentage changes, if Mr. Kravitz raises the price to $48 and the quantity demanded decreases to 16,000, the price elasticity of demand for his concert tickets is A) 15.73. B) 6.06. C) 1.00. D) 0.39. E) 0.93.
The total amount the federal government has borrowed to make expenditures that exceed tax revenue is called
A) personal income taxes. B) federal expenditures. C) total government spending. D) the net government revenue. E) the national debt.