Which of the Following Would Increase the Demand for Labor

question 245

Multiple Choice

Which of the following would increase the demand for labor?
(i) a decrease in the output price
(ii) an increase in the output price
(iii) a labor-saving technological advance
(iv) a labor-augmenting technological advance

• A)(i) only
• B)(i) and (iii) only
• C)(ii) only
• D)(ii) and (iv) only

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Definitions:

Interest Rates

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.

Term Deposit

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Promissory Note

A financial document in which one party promises to pay another party a definite sum of money at a specified future date or on demand.

Missing Value

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