When Wages Increase, There Are Likely to Be More Labor-Saving

question 71

True/False

When wages increase, there are likely to be more labor-saving technological changes.

---

Definitions:

Bureau of Labor Statistics

An agency of the U.S. government tasked with the collection and analysis of data concerning the labor market, employment conditions, and fluctuations in prices.

Employed

Individuals who are currently working in a job, including both full-time and part-time positions.

Efficiency Wages

Wages set above the market equilibrium to increase worker productivity, reduce turnover, and avoid shirking.

Bureau of Labor Statistics

A U.S. government agency that collects and disseminates various labor economics statistics, including unemployment and wage data.