A Technological Advance That Increases Labor Productivity Will

question 9

Multiple Choice

A technological advance that increases labor productivity will

• A) lower wages.
• B) decrease the demand for labor as fewer workers are needed.
• C) decrease the supply of labor as fewer workers are needed.
• D) increase the demand for labor as MP rises.
• E) decrease the demand for labor as MP falls.

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Definitions:

Consideration

Something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.

Exclusive Dealing Contract

An agreement where one party agrees to buy goods exclusively from another party, thereby preventing the seller from selling to others.

UCC

Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States, making business operations more uniform across states.

Disproportion In Value

This term does not correspond to a specific, widely recognized legal or financial principle. NO.