Suppose That Technological Progress Increases the Productivity of Teachers

question 514

Multiple Choice

Suppose that technological progress increases the productivity of teachers. Which of the following accurately describes the labor market for teachers after the technological change? Equilibrium wages will

• A)rise, and the equilibrium quantity of teachers employed will fall.
• B)rise, and the equilibrium quantity of teachers employed will rise.
• C)fall, and the equilibrium quantity of teachers employed will fall.
• D)fall, and the equilibrium quantity of teachers employed will rise.