An Advance in Technology Increases the Productivity of Labor

question 363

Multiple Choice

An advance in technology increases the productivity of labor. As a result, the nation's production function shifts and the labor curve shifts rightward.

• A) upward; demand for
• B) upward; supply of
• C) downward; demand for
• D) downward; supply of

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Definitions:

Educational Level

A measure of the highest degree or level of education an individual has completed.

Threshold

The minimum level of stimulation or the level at which a certain effect begins to be produced, often used in economics, psychology, and physical sciences.

Grades

Levels of quality or performance, often used to categorize or rank things such as academic results or material purity.

Employers

Individuals or organizations that hire and pay employees for their labor.