Suppose a Labor-Augmenting Technology Were Developed for a Product That

question 181

Multiple Choice

Suppose a labor-augmenting technology were developed for a product that increased the marginal product of labor for all workers. Which of the following would happen in the labor market for this product?

• A)Demand would decrease.
• B)Demand would increase.
• C)Supply would decrease.
• D)Supply would increase.

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Definitions:

Construction

The process of building or assembling infrastructure, buildings, or other substantial physical structures.

New Home

A dwelling that has never been lived in before, typically freshly constructed or in the process of being built.

Writ Of Execution

A court order that authorizes a local law officer to seize and sell a debtor’s real or personal nonexempt property, within the court’s geographic jurisdiction, to enforce a judgment awarded by the court.

Execution

The act of completing or carrying out a plan, order, or course of action, often related to legal documents or judicial sentences.