Assume that the labor market is perfectly competitive. An increase in the productivity of labor
A) causes the marginal factor cost of labor to decrease.
B) generates a lower wage rate.
C) causes an increase in the demand for labor.
D) causes a reduction in the demand for labor since each worker is now more productive.
C
Economics
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The long-run aggregate supply curve will shift to the right if
A) net exports decrease. B) the economy experiences technological change. C) there is a decrease in population. D) the economy experiences high levels of inflation.
Economics
Explain the difference between equality of opportunity and equality of results. Draw an analogy to a football game
What will be an ideal response?
Economics