An Increase in Total Factor Productivity Causes the

question 70

Multiple Choice

An increase in total factor productivity causes the

• A) production function to shift up, labour demand to shift right, and output supply to shift right.
• B) production function to shift up, labour demand to shift left, and output supply to shift right.
• C) production function to shift up, labour demand to shift right, and output supply to shift left.
• D) production function to shift down, labour demand to shift left, and output supply to shift left.
• E) production function to shift down, labour demand to shift right, and output supply to shift right.

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Definitions:

Technical Skill

Denotes the ability to perform tasks that require specific knowledge and capabilities, especially related to technology and specialized fields.

Traditional Media

Forms of mass communication that predate the digital age, including newspapers, magazines, television, and radio.

Specialized Skills

Refers to unique or high-level abilities acquired through training and experience that are specific to a particular job or industry.

Time Lag

The delay between the initiation of an action or process and its effect or outcome.