What is the difference between labor-saving technology and labor-complementary technology?

What will be an ideal response?

Labor-saving technology is a type of technology that can substitute for existing labor inputs, reducing the marginal product of labor. Conversely, labor-complementary technology is a type of technology that can complement existing labor inputs, increasing the marginal product of labor. The introduction of labor-saving technology shifts the demand curve for labor to the left, whereas the use of labor-complementary technology shifts the demand curve for labor to the right.

Economics

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Explain why a voluntary production quota is difficult to operate

What will be an ideal response?

Economics

In the Classical view, rising interest rates reduce

A) government spending. B) saving. C) velocity. D) investment.

Economics