If a Firm Adopts a Labor-Augmenting Piece of Technology, The

question 70

Multiple Choice

If a firm adopts a labor-augmenting piece of technology, the:

• A)marginal product of labor will increase.
• B)marginal product of labor will decrease.
• C)marginal supply of labor will increase.
• D)marginal supply of labor will decrease.

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Definitions:

Industrial Unions

Unions that organize workers across all crafts and trades within a single industry.

New Deal Era

A period in American history during the 1930s in which President Franklin D. Roosevelt implemented a series of economic interventions designed to recover from the Great Depression, including job creation programs, financial regulations, and social welfare initiatives.

Organized Labor

Associations of workers united to protect and further their rights and interests; also known as labor unions.

New Deal Era

The New Deal Era refers to the period in the United States during the 1930s when President Franklin D. Roosevelt implemented policies to counteract the effects of the Great Depression.