Which of the following statements is true?
A) Technological gains tend to reduce the demand for labor because producers substitute technology and capital for labor.
B) Technological change and capital investment tend to increase real wages because labor productivity increases.
C) Technological change and capital investment tend to reduce the quantity of labor employed, and reduce real wages.
D) Technological change and capital investment tend to reduce the demand for labor and increase the supply of labor leading to an indeterminate effect on real wages.
Correct Answer:
Verified
Q67: Use the following to answer questions.
Exhibit: Aggregate
Q68: Use the following to answer questions.
Exhibit: Aggregate
Q69: Use the following to answer questions.
Exhibit: Aggregate
Q70: Use the following to answer questions .
Exhibit:
Q71: Use the following to answer questions.
Exhibit: Aggregate
Q73: The model of aggregate demand and long-run
Q74: Use the following to answer questions .
Exhibit:
Q75: Which of the following events will shift
Q76: Use the following to answer questions .
Exhibit:
Q77: The position of the long-run aggregate supply
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