Improvements in the Productivity of Labor Will Tend To

question 26

Multiple Choice

Improvements in the productivity of labor will tend to:

• A) decrease wages.
• B) decrease the supply of labor.
• C) increase wages.
• D) increase the supply of labor.

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Definitions:

Man-Made Resources

Assets and materials created by humans to produce goods and services, such as machinery and buildings.

Capital

Refers to financial assets or resources that companies use to fund their operations and growth.

Ration

To distribute or allocate a scarce resource or supply in a controlled manner among various users.

Overpopulation

A condition where an environment's population exceeds the capacity it has to support life healthily and comfortably.