Assume That Technological Progress Does Not Occur

question 21

Multiple Choice

Assume that technological progress does not occur. In Japan, the rate of saving has generally been greater than in the U.S. Given this information, we know that in the long run:

• A) The U.S. growth rate will be greater than the Japanese growth rate.
• B) Output per worker in Japan will be greater than U.S. output per worker.
• C) Output per worker in the U.S. will be greater than Japanese output per worker.
• D) Japan's growth rate will be greater than the U.S. growth rate.
• E) Capital per worker in Japan will be no different than U.S. capital per worker.

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Definitions:

Labor Problem

Issues arising from employment relationships, including disputes over wages, working conditions, union rights, and employer practices.

Bargaining Power

The capacity of one party to influence the terms of negotiation or outcomes to its advantage.

Labor Market Outcomes

The results or consequences of interaction between job seekers and employers in the labor market, often measured by factors such as employment rates, wage levels, and the quality of working conditions.

Bargaining Strength

The capacity of a negotiating party, either a labor union or an employer, to achieve its objectives in the bargaining process, influenced by factors such as membership support, economic conditions, and legal context.