A New Productivity Breakthrough in Computer Technology Is Announced;as a Result,the

question 87

Multiple Choice

A new productivity breakthrough in computer technology is announced;as a result,the marginal product of labour will double next year.What happens to current employment and the real wage rate?

• A)Both employment and the real wage rate would increase.
• B)Both employment and the real wage rate would decrease.
• C)Employment would increase and the real wage would decrease.
• D)Employment would decrease and the real wage would increase.

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Definitions:

Society

A collection of people engaged in continuous social relations, or a significant social group inhabiting the same geographic or social area, generally governed by the same political power and prevailing cultural norms.

Gerontophobia

An irrational fear, hatred, or aversion towards old people or aging, often resulting from societal stereotypes and misconceptions about the elderly.

Prejudice

Preconceived opinion or bias, often based on stereotypes, towards people, places, or things, without adequate knowledge or reason.

Gerontocracy

A form of societal structure in which the power is held by a significantly older population or the leadership is markedly older than the average adult population.