Which of the Following Factors Have Contributed to the Shrinking

question 40

Multiple Choice

Which of the following factors have contributed to the shrinking size of the middle class?

• A)Increasing opportunities for those with little education
• B)Independence of the temporary workforce
• C)Global competition and rapid advances in technology
• D)The decline of new growth industries and nonunion workplaces

Comprehend the concepts of income, wealth, and economic measurements.

Understand the relationship between the marginal product of labor, wage, and equilibrium in the labor market.

Recognize the effect of technology on the marginal product of labor and overall employment.

Analyze the labor supply curve and labor-leisure tradeoff.

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