Asked by
Vesna Mickl
on Dec 12, 2024
Verified
A technological advance that increases labor productivity will
A) lower wages.
B) decrease the demand for labor as fewer workers are needed.
C) decrease the supply of labor as fewer workers are needed.
D) increase the demand for labor as MP rises.
E) decrease the demand for labor as MP falls.
Labor Productivity
The measure of economic performance calculated by dividing the output by the number of labor hours used to produce it.
Technological Advance
The process of developing and applying new techniques and tools to improve efficiency, productivity, or quality in various fields.
- Comprehend how technological advancements affect labor demand and productivity.
Verified Answer
PM
Learning Objectives
- Comprehend how technological advancements affect labor demand and productivity.
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