Consider the Labor Market for Short-Order Cooks

question 175

Multiple Choice

Consider the labor market for short-order cooks. A labor-augmenting technological change such as a faster food processor will cause

• A)both equilibrium wages and equilibrium employment to increase.
• B)both equilibrium wages and equilibrium employment to decrease.
• C)equilibrium wages to increase and equilibrium employment to decrease.
• D)equilibrium wages to decrease and equilibrium employment to increase.

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Definitions:

Mood-stabilizing Drug

Medications used primarily to treat mood disorders and prevent swings between mania and depression.

Lobotomy

A surgical procedure that involves severing connections in the brain's prefrontal lobe.

Nobel Prize

A set of international awards given annually in several categories including Physics, Chemistry, Medicine, Literature, Peace, and Economic Sciences, recognizing significant contributions.

Moniz

António Egas Moniz, a Portuguese neurologist who is credited with developing the technique of prefrontal leucotomy, for which he shared the Nobel Prize in Physiology or Medicine in 1949.