What Will Improvements in the Productivity of Labour Tend to Do

question 61

Multiple Choice

What will improvements in the productivity of labour tend to do?

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

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Definitions:

Business Quarters

Divisions of the fiscal year into four equal parts, typically three months each, used by businesses to report earnings and assess performance.

Demand-Pull Inflation

An economic condition where prices rise because the demand for goods exceeds supply.

Cost-Push Inflation

Inflation caused by an increase in the cost of production, such as higher raw material costs, which is passed on to consumers in the form of higher prices.

Creditors

Creditors are individuals, businesses, or institutions that lend money or extend credit to others, expecting repayment in the future.