If More and Better Technology Is Used for Producing Wheat

question 48

Multiple Choice

If more and better technology is used for producing wheat in the United States than in a lesser-developed country, then the:

• A) MRP of the U.S. workers will be higher than the MRP of the workers in the lesser-developed country.
• B) MRP of the U.S. workers will be lower than the MRP of the workers in the lesser-developed country.
• C) demand for the U.S. workers will be lower than the demand for the workers in the lesser developed country.
• D) price of wheat will be higher in the United States than in the lesser-developed country.
• E) wages of the U.S. workers will be lower than the wages of the workers in the lesser-developed country.

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Definitions:

Independent Variable

A variable in an experimental or statistical model that is manipulated or changed to observe its effects on a dependent variable.

Least Squares Line

The line that minimizes the sum of the squared differences between observed and predicted values in regression analysis.

Sales

The total amount of a product or service sold within a particular period of time, usually expressed in units or monetary terms.

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