Other Things Remaining the Same,which of the Following Is Likely

question 156

Multiple Choice

Other things remaining the same,which of the following is likely to happen if an industry introduces labor-saving technology in production?

• A) Both the wage rate and the employment level will decrease in the industry.
• B) Both the wage rate and the employment level will increase in the industry.
• C) The wage rate will increase and the employment level will decrease in the industry.
• D) The wage rate will decrease and the employment level will increase in the industry.

---

Definitions:

Mean

The average of a set of numbers, calculated by dividing the sum of all values by the number of values.

Median

A measure of central location provided by the value in the middle when the data are arranged in ascending order.

Uniform Distribution

A type of probability distribution in which all outcomes are equally likely.

Probability Density Function

An equation that indicates the probability of a random variable occurring at a certain value.