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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. 

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Alice Sejake
Alice SejakeLv10
31 Oct 2020

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Related questions

1.The market supply curve for labor is upward-sloping because

a) As the wage rises, most workers want to work fewer hours.

b) As the wage falls, most workers want to work more hours.

c) As the wage rises, most workers are willing to work more hours.

d) For most workers, as the wage rises, the preference for leisure time increases.

2. As marginal physical product diminishes, marginal revenue product

a) Also diminishes.

b) Is not affected.

c) Rises at a diminishing rate and eventually falls.

d) Rises.

3. For a minimum wage to have any impact on the labor market, it must be set at a level

a) Higher than the equilibrium wage

b) Higher than MPP.

c) Higher than MRP.

d) Consistent economic growth.

4. Because a union is a form of monopoly, it must be concerned about the _____ slope of the demand curve for labor.

a) Vertical

b) Horizontal

c) Downward

d) Upward

1. The market supply curve for labor is upward-sloping because

a) As the wage rises, most workers want to work fewer hours.

b) As the wage falls, most workers want to work more hours.

c) As the wage rises, most workers are willing to work more hours.

d) For most workers, as the wage rises, the preference for leisure time increases.

2. As marginal physical product diminishes, marginal revenue product

a) Also diminishes.

b) Is not affected.

c) Rises at a diminishing rate and eventually falls.

d) Rises.

3. For a minimum wage to have any impact on the labor market, it must be set at a level

a) Higher than the equilibrium wage.

b) Higher than MPP.

c) Higher than MRP.

d) Consistent with economic growth.

4. Because a union is a form of monopoly, it must be concerned about the ________ slope of the demand curve for labor.

a) Vertical

b) Horizontal

c) Downward

d) Upward

Which of the following will cause an increase in the demand for labor?
 
A) An increase in the labor supply.
B) A reduction in the stock of capital.
C) An increase in the productivity of workers.
D) A decrease in the real wage. 

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