When Labor Productivity Increases, the Demand for Labor Curve and the Supply

question 70

Multiple Choice

When labor productivity increases, the demand for labor curve and the supply of labor curve .

• A) shift s leftward; does not shift
• B) shifts leftward; shifts rightward
• C) shifts rightward; does not shift
• D) shifts rightward; shifts rightward

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Definitions:

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be converted to cash in the short term.

Operational Assets

Operational assets are the long-term assets that a company uses in the production of its goods and services, crucial for its core operations.

Plant Assets

These are long-term tangible assets used in the operations of a business that are not intended for resale, such as machinery, buildings, and land.

Fair Market Value

The price that a willing buyer and a willing seller would agree on for an asset in an open and competitive market.