Suppose That New High-Technology Farming Equipment Is Developed

question 27

Multiple Choice

Suppose that new high-technology farming equipment is developed. These new machines are substitutes for low-income workers such as farm laborers, but they are complements for high- income workers such as farm technicians and farm owners. This new technology will shift the demand curve for low-income workers to the _______ while shifting the demand curve for high-
Income workers to the _______.

• A) left, left
• B) left, right
• C) right, left
• D) right, right

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Definitions:

Emotional Arousal

A state of heightened physiological and emotional response to stimuli, which can influence behavior and perception.

Self-Efficacy

An individual’s belief about the likelihood of successfully completing a specific task.

Enactive Mastery

Gaining confidence and skill through direct experience and successful practice in specific activities.

Self-Serving Bias

Underestimates internal factors and overestimates external factors as influences on someone’s behavior.